$5,000,000
$5,500,000
9.1%For more information regarding the value of a property, please contact us for a free consultation.
622 Ocean AVE Brooklyn, NY 11226
Key Details
Sold Price $5,000,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Subdivision Flatbush
MLS Listing ID L3572348
Sold Date 08/19/26
HOA Y/N No
Rental Info No
Year Built 1910
Lot Dimensions 50x125
Property Sub-Type Mixed Use
Source onekey2
Property Description
Welcome to an exceptional development opportunity in a thriving residential district. This 6,250 sq ft lot, perfectly situated with dimensions of 50 ft by 125 ft, offers a prime canvas for your next project. The property is located in the R7A zoning district, an area designated for medium-density residential development, providing a balanced blend of community charm and urban convenience.
Key Features:
Maximized Residential Buildable Area with Quality Housing : Under the Quality Housing Program, the maximum FAR can be increased. In an R7A district, the FAR can be increased to 4.0 for residential use if the development meets Quality Housing standards.. This property allows for a significant buildable area of up to 25,000 sq ft. This is an ideal opportunity to create a medium-density housing project that can meet the needs of the community while maximizing your investment potential.
Strategic Location: Situated within an area that encourages medium-density development, this lot is poised for growth and transformation. The R7A zoning promotes the development of residential buildings and community facilities, making it a versatile choice for developers looking to create vibrant living spaces.
Elevated Ground Position: The ground elevation of 46 ft provides a solid foundation for construction, ensuring stability and a commanding presence in the neighborhood.
Development Potential:
This property offers immense potential for a variety of development scenarios, whether you're looking to create a residential building with multiple units, a community facility, or a combination of both. The R7A zoning district's flexibility allows for innovative and impactful designs that can cater to modern urban living demand. Don't miss out on this rare opportunity to develop a significant residential project in a sought-after zoning district.
Location
State NY
County Kings (brooklyn)
Interior
Fireplace No
Exterior
Private Pool No
Others
Special Listing Condition None
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Bought with MYNY Residential