481 Monroe StBrooklyn, NY 11221

Property Details for 481 Monroe St

Year built

2019

Lot size

0.05 AC

Property size (Sq ft)

5,034 SF

Zone code

R6B

Property type

Apartment buildings

APN

01634-0072

APU

16340072

Description

This exceptional 2,250 sq ft land parcel in Bedford-Stuyvesant, Brooklyn (zip code 11221, Kings County) presents a rare mid-construction opportunity. Approved plans exist for a four-story, six-unit condominium building. Significant progress has already been made, with foundation and concrete work completed up to the third floor – the project is approximately 30% complete. An additional $1,000,000 is estimated for completion. The property is zoned R6B and benefits from its proximity to the Gates Avenue (J,Z) subway station, providing excellent access to public transportation. The location offers convenient access to numerous amenities including McDonald's, Starbucks, Chase Bank, Burger King, Food Bazaar, TD Bank, and Blink Fitness. This prime location within Bedford-Stuyvesant offers strong potential for appreciation. The asking price is $1,399,000, translating to approximately $31 per square foot. The property may be eligible for a 421A tax abatement. Detailed budget plans and architectural plans are available upon request. This represents a compelling investment opportunity in a vibrant and rapidly developing Brooklyn neighborhood.

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.6872

Longitude

-73.9379

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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