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1 Merit Ct 4,200 SF Specialty Building Offered at $1,551,770 CAD at a 5.45% Cap Rate in Brooklyn, NY 11229
Executive Summary
Waterfront opportunities like this don't come twice. Tucked along the serene shores of Gerritsen Beach, 1 Merit Court is a one-of-a-kind 4,200 sq ft marina and event hall sitting on 88 feet of prime deep-water frontage — a combination virtually impossible to find anywhere in Brooklyn today.
The property arrives fully loaded: 19 deep-water boat slips generating $60,000 in annual income, 19 parking spaces, soaring 17-foot ceilings, a full commercial kitchen, indoor bar, patio, 240-amp power, central air, and a steel Navy bulkhead with 25–30 years of remaining life. A private gated entry completes the picture.
But the real story is what this land can become. Zoned R4-1, the site offers approximately 9,570 buildable square feet — expandable to over 14,000 sq ft with a community facility — opening the door to two and three-family residences or a boutique condominium development steps from the water.
Whether you're a developer eyeing a rare waterfront build, an investor drawn to the income stream, or an end-user ready to plant your flag in one of Brooklyn's most unique neighborhoods — this property checks every box. Low property taxes, strong zoning, and multiple exit strategies make the math easy.
Opportunities like this don't wait. Call and schedule a private tour!
The property arrives fully loaded: 19 deep-water boat slips generating $60,000 in annual income, 19 parking spaces, soaring 17-foot ceilings, a full commercial kitchen, indoor bar, patio, 240-amp power, central air, and a steel Navy bulkhead with 25–30 years of remaining life. A private gated entry completes the picture.
But the real story is what this land can become. Zoned R4-1, the site offers approximately 9,570 buildable square feet — expandable to over 14,000 sq ft with a community facility — opening the door to two and three-family residences or a boutique condominium development steps from the water.
Whether you're a developer eyeing a rare waterfront build, an investor drawn to the income stream, or an end-user ready to plant your flag in one of Brooklyn's most unique neighborhoods — this property checks every box. Low property taxes, strong zoning, and multiple exit strategies make the math easy.
Opportunities like this don't wait. Call and schedule a private tour!
Property Facts
| Price | $1,551,770 CAD | Building Class | C |
| Price Per SF | $369.47 CAD | Lot Size | 0.22 AC |
| Sale Type | Investment or Owner User | Building Size | 4,200 SF |
| Cap Rate | 5.45% | No. Stories | 2 |
| Property Type | Specialty | Year Built/Renovated | 1920/2014 |
| Property Subtype | Marina | ||
| Zoning | R4-1 - R4 districts allow all types of housing at a slightly higher density than permitted in R3-2 | ||
| Price | $1,551,770 CAD |
| Price Per SF | $369.47 CAD |
| Sale Type | Investment or Owner User |
| Cap Rate | 5.45% |
| Property Type | Specialty |
| Property Subtype | Marina |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 4,200 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1920/2014 |
| Zoning | R4-1 - R4 districts allow all types of housing at a slightly higher density than permitted in R3-2 |
Amenities
- Bus Line
- Waterfront
- Air Conditioning
Moderately walkable
60/100
Fairly drivable
50/100
Good public transit
60/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 08876-2762 | Improvements Assessment | $60,149 CAD |
| Land Assessment | $68,380 CAD | Total Assessment | $128,529 CAD |
Property Taxes
Parcel Number
08876-2762
Land Assessment
$68,380 CAD
Improvements Assessment
$60,149 CAD
Total Assessment
$128,529 CAD
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