New York, NY

Property

Ownership: For Sale
Type: Unknown
Pets: Pets No
Lot Size: 0.09 Acres

Financials

Price:$1,099,900
Annual Taxes:$11,079
505 Park Ave, New York, NY 10022
Listing Courtesy of Douglas Elliman Real Estate

Exceptional development opportunity on a 3, 720 sq ft lot 30' x 126.

Description

Exceptional development opportunity on a 3,720 sq ft lot (30' x 126.67') with R6 zoning, allowing for flexible multifamily construction subject to DOB and zoning approval. Previously approved plans (per DOB) called for an 8-unit, 8,595 sq ft building with four stories plus a penthouse—ideal for condo sellout or rental income (subject to approval). Some structural work has already been completed, including demolition, excavation, foundation, and early-stage steel framing up to the second floor, subject to inspection and verification. Located in a rapidly growing pocket of Crown Heights with strong market fundamentals and new developments nearby, this site offers a rare chance to enter into a partially completed project with significant upside.

Long Island MLS

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.

All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.