506 Graham Ave Brooklyn, NY 11222

This vacant, semi-detached three-family home in Greenpoint, Brooklyn, presents a compelling redevelopment opportunity. Situated on a 1,295 square foot lot (20 x 64.75 ft) and boasting a 2,520 square foot building (20 x 42 ft), this property offers significant upside. The asking price is $1,925,000, translating to $763.89 per square foot and $641,667 per unit. Pre-approved architectural plans are in place for conversion into a legal four-family dwelling, significantly increasing rental income potential. Alternatively, the property could be converted into a single-family residence or maintained as a three-family rental. An additional 427 square feet of buildable space allows for expansion. The property is zoned R6B with a FAR of 1.67 and a maximum FAR of 2. Annual property taxes are $5,189. Located near McCarren Park, this property benefits from a prime Greenpoint location bordering Williamsburg, offering excellent access to amenities and transportation. The building is three stories high. This is an exceptional investment opportunity for those seeking to capitalize on the thriving Greenpoint real estate market.