611 Washington AveBrooklyn, NY 11238

  • Manufacturing properties
  • 1,400 SF
For Sale
$3,000,000 View listing

Property Details for 611 Washington Ave

Year built
1930
Lot size
0.07 AC
Property size (Sq ft)
1,400 SF
Zone code
R6A
Property type
Manufacturing properties
APN
01140-0011
APU
11400011

Description

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

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$16,158
$103,050
$67,500
$170,550
-
$229,000
$150,000
$379,000

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