1761 East 12th Street, Brooklyn, New York 11229
- $5,999,000
- List Price
- $5,999,000
- Status
- ACTIVE
- MLS#
- 502080
Property Description
Prime Midwood Development Opportunity – Rare Package Sale 1761 & 1763 E 12th Street are offered together as a package, featuring R7A zoning and a combined lot size of 60’ × 117’ (approximately 7,020 SF). This is a rare opportunity for developers to acquire a substantial site in one of Brooklyn’s most desirable neighborhoods. These two properties are currently generating approximately $185,000 in annual rental income, allowing investors to benefit from immediate cash flow while planning future redevelopment and minimizing carrying costs. Potential to develop 50+ residential units, subject to zoning, approvals, and architectural review. Potential eligibility for Affordable Housing programs and applicable tax incentive programs, including opportunities that may qualify for 421-a/related replacement tax benefits, where applicable and subject to government requirements. Developers and buyers are strongly encouraged to consult their architect, zoning consultant, and legal professionals to verify buildable square footage, unit count, and eligibility for Affordable Housing and tax abatement programs.
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Additional Information
- Lot Size
- 3,510
- Stories
- 2
- Parking Description
- 1 Space
- Heat Source
- Gas
- Zoning
- R7A
- Sale Type
- Arm's Length
- Bank Financing
- 1031 Exchange, Bank Mortgage, Cash
- Building Type
- Detached
- Basement
- Cellar, Finished, Full
- Lot Dimensions
- 117 x 30
- Estimated Yearly Tax Amount
- $47,454
Mortgage Calculator
Listing courtesy of Ashford Homes LLC.