846 Flatbush AveBrooklyn, NY 11226

For Sale
$5,000,000

Prime Brooklyn development land, 25,520 buildable SF

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional 6,379 square foot lot at 846 Flatbush Avenue in Brooklyn, New York (zip code 11226), presents a compelling development opportunity. Zoned R7A/C2-4, it offers 25,520 buildable square feet, ideal for a multifamily or mixed-use project. The lot's dimensions are 58' x 108', allowing for efficient building design. Located in the heart of Flatbush, this property benefits from a prime location near Prospect Park and excellent public transportation, including easy access to the B and Q trains at Church Avenue, providing a quick commute to Downtown Brooklyn and Manhattan. Recent development activity in the area, including the completion of high-end rental buildings achieving above-market rents, underscores the strong rental growth potential (20-25% increase in the last two years). The presence of a nearby Target has also positively impacted the retail landscape on Flatbush Avenue. This site is perfectly positioned to capitalize on the increasing demand for luxury rentals or condominiums in this thriving neighborhood. The asking price is $5,000,000, translating to $195 per square foot. This represents a strategic investment in Brooklyn's dynamic real estate market.

Highlights

  • Prime Flatbush location: 25,520 buildable SF development site at 846 Flatbush Avenue.
  • 58' x 108' lot (6,390 SF) ideal for multifamily/mixed-use development.
  • R7A, C2-4 zoning allows 25,520 buildable SF as-of-right.
  • 20-25% rent growth in the neighborhood over the past two years.
  • Enhanced retail environment due to nearby Target.
  • Nearby high-end rental buildings achieving above-market rents.

Location Insight

City
Brooklyn
County
Kings
State
New York
Latitude
40.6517653
Longitude
-73.9594126
846 Flatbush Ave, Brooklyn, New York

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846 Flatbush Ave
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