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Crown Heights Residential Development 552 E New York Ave 40 Unit Apartment Building $6,979,600 CAD ($174,490 CAD/Unit) Brooklyn, NY 11225
INVESTMENT HIGHLIGHTS
- Crown Heights Residential Development Opportunity
- Combined Purchase (548–552 E New York Ave): $5,500,000
- 552 E New York Ave (31x90): $2,000,000
- Approximately 24,570 buildable square feet under the Quality Housing Program
- 548 E New York Ave (60x90): $3,500,000
EXECUTIVE SUMMARY
The Crown Heights Development Opportunity
548–552 East New York Avenue, Brooklyn, NY 11225
Residential Development Site in Crown Heights
The Crown Development Opportunity offers a rare chance to acquire an 8,190 sq. ft. development site in the Crown Heights neighborhood of Brooklyn. The property provides up to approximately 24,570 buildable square feet under the Quality Housing Program, allowing for a 7-story residential building with around 34-40 units (subject to approvals).
The combined 91-foot frontage and 90-foot depth create an efficient development layout with good light and street presence. Buyers may acquire both lots together or separately.
Property Highlights
Buildable Area: 24,570 SF
Lot Size: 8,190 SF (combined)
Zoning: R6 (Wide Street)
FAR: 3.0 (Quality Housing Program)
Maximum Height: 70 ft / 7 stories
Cellar Space: 8,190 SF (potential amenity or storage area)
Pricing
Combined Purchase (548–552 E New York Ave): $5,000,000
Individual Lots:
548 E New York Ave (60x90): $3,500,000
552 E New York Ave (31x90): $2,000,000
Development Potential
This site offers flexibility for various residential development strategies, including rental or condominium projects. No current architectural plans are in place, providing buyers the opportunity to design according to their own vision and timeline.
Location
Situated between Prospect Lefferts Gardens and Crown Heights, the property is near Prospect Park, the Brooklyn Botanic Garden, and major subway lines (2, 3, 4, 5). The area continues to attract strong residential demand and steady neighborhood growth.
Contact
For more information and access to the full due diligence package:
Mendy Lipkser 646-662-5454 Mendy@MendyRealty.com
548–552 East New York Avenue, Brooklyn, NY 11225
Residential Development Site in Crown Heights
The Crown Development Opportunity offers a rare chance to acquire an 8,190 sq. ft. development site in the Crown Heights neighborhood of Brooklyn. The property provides up to approximately 24,570 buildable square feet under the Quality Housing Program, allowing for a 7-story residential building with around 34-40 units (subject to approvals).
The combined 91-foot frontage and 90-foot depth create an efficient development layout with good light and street presence. Buyers may acquire both lots together or separately.
Property Highlights
Buildable Area: 24,570 SF
Lot Size: 8,190 SF (combined)
Zoning: R6 (Wide Street)
FAR: 3.0 (Quality Housing Program)
Maximum Height: 70 ft / 7 stories
Cellar Space: 8,190 SF (potential amenity or storage area)
Pricing
Combined Purchase (548–552 E New York Ave): $5,000,000
Individual Lots:
548 E New York Ave (60x90): $3,500,000
552 E New York Ave (31x90): $2,000,000
Development Potential
This site offers flexibility for various residential development strategies, including rental or condominium projects. No current architectural plans are in place, providing buyers the opportunity to design according to their own vision and timeline.
Location
Situated between Prospect Lefferts Gardens and Crown Heights, the property is near Prospect Park, the Brooklyn Botanic Garden, and major subway lines (2, 3, 4, 5). The area continues to attract strong residential demand and steady neighborhood growth.
Contact
For more information and access to the full due diligence package:
Mendy Lipkser 646-662-5454 Mendy@MendyRealty.com
PROPERTY FACTS
| Price | $6,979,600 CAD | Building Class | C |
| Price Per Unit | $174,490 CAD | Lot Size | 0.19 AC |
| Sale Type | Investment | Building Size | 35,190 SF |
| No. Units | 40 | No. Stories | 7 |
| Property Type | Multifamily | Year Built | 1931 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Mid-Rise | ||
| Zoning | R6 - a medium-density residential district that allows for multi-family apartment buildings, with development options | ||
| Price | $6,979,600 CAD |
| Price Per Unit | $174,490 CAD |
| Sale Type | Investment |
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 35,190 SF |
| No. Stories | 7 |
| Year Built | 1931 |
| Opportunity Zone |
Yes |
| Zoning | R6 - a medium-density residential district that allows for multi-family apartment buildings, with development options |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
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Walk Score®
Walker's Paradise (92)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (79)
PROPERTY TAXES
| Parcel Number | 04793-0017 | Improvements Assessment | $188,357 CAD |
| Land Assessment | $68,264 CAD | Total Assessment | $256,620 CAD |
PROPERTY TAXES
Parcel Number
04793-0017
Land Assessment
$68,264 CAD
Improvements Assessment
$188,357 CAD
Total Assessment
$256,620 CAD
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Mendy Realty
Crown Heights Residential Development | 552 E New York Ave
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