517 Nostrand AveBrooklyn, NY 11216

Property Details for 517 Nostrand Ave

Year built

1910

Lot size

0.04 AC

Property size (Sq ft)

2,400 SF

Zone code

C45D

Property type

Commercial real estate

APN

01867-0018

APU

18670018

Description

This exceptional 7,750 square foot development site, located at 517-23 Nostrand Avenue in the Bedford-Stuyvesant neighborhood of Brooklyn, New York, presents a unique investment opportunity. Situated on a prime corner lot at the intersection of Nostrand Avenue and Herkimer Street, this property boasts an impressive 177.5 feet of total frontage along Nostrand Avenue, a bustling retail corridor. Currently configured as four vacant lots, this C4-5D zoned land is ideally suited for a variety of development projects, including a hotel or a mixed-use development. The property's strategic location offers unparalleled access to public transportation, being just steps away from the Nostrand Avenue A and C subway station, which sees an annual ridership of 5.6 billion. This high-traffic location ensures significant visibility and accessibility for any future development. Further enhancing its appeal, a 421-A tax abatement is currently in place, providing substantial financial advantages to the buyer. This is a rare chance to acquire a large, well-positioned development site in a rapidly growing area of Brooklyn, offering significant potential for substantial returns. The asking price for this remarkable property is $9,000,000. The zip code is 11216.

• Alternative Use

  Use

  Valuation

  Residential

  $454,174

  Hospitality

  $416,021

  Educational

  $346,124

  Medical

  $358,028

  Retail

  $538,416

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.6795

Longitude

-73.9493

CBSA code

35620

CBSA name

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

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].