Crown Heights Residential Development 552 E New York Ave 40 Unité Immeuble d’appartements 6 916 950 $ CAD (172 924 $ CAD/Unité) Brooklyn, NY 11225

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