This exceptional development opportunity presents a 4,326 square foot lot located at 611 Washington Avenue & 796 Dean Street in the vibrant Prospect Heights neighborhood of Brooklyn, New York. The property is zoned R6A and C2-4, offering significant potential for mixed-use development. Proposed plans, based on 8,577 buildable square feet, include twelve residential units (four studios, two one-bedroom, four two-bedroom units), one commercial unit, and one community facility. The asking price is $3,000,000. This prime location boasts excellent connectivity, with proximity to the Sutter Clinton-Washington Avs (A,C) Subway Station and other transportation options, ensuring easy access to Manhattan and other Brooklyn destinations. Residents will enjoy convenient access to a wealth of amenities, including nearby colleges (St. Joseph's College, Medgar Evers College, Long Island University), Prospect Park, Lincoln Terrace/Arthur S. Somers Park, various restaurants, shops, banks, and fitness centers. This presents a compelling investment opportunity in a thriving Brooklyn neighborhood with strong appreciation potential. The property's strategic location and zoning flexibility make it ideal for developers seeking to capitalize on the high demand for residential and commercial space in this desirable area.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
Alternative Use
Use
Valuation
Residential
$264,935
Hospitality
$242,679
Educational
$201,906
Medical
$208,850
Retail
$314,076
Location Insight
City
Brooklyn
County
Kings
State
New York
Latitude
40.6792
Longitude
-73.9638
CBSA code
35620
CBSA name
NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
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