$795,000
Updated 11 years ago
Off Market

533 Albany Ave

Crown Heights, Brooklyn | East New York Ave & Maple Street

Development Site

$795,000
Lot Size31'x92'
ZoneR6
Building TypeVacant Lot

Building Amenities

  • Elevator

Property Description for 533 Albany Ave

The subject property is a residential development site well situated in Crown Heights, outside of the GEA, allowing for 421(a) tax exemption as of right. The zoning allows for a 3.0 FAR which lends 8,556 buildable square feet. The site is 4 blocks from the Sterling Street 2,5 trains at Nostrand Avenue offering access to nearby Downtown Brooklyn and Manhattan within 20 minutes. Take advantage of this opportunity to pick up a significant development site, in a neighborhood that is experiencing rapid growth and rising rental rates

Listing History for 533 Albany Ave

Now
06/05/2014
POM by Michael Amirkhanian
Cushman & Wakefield
04/09/2014
$795,000
Initial Price by Michael Amirkhanian
Cushman & Wakefield

Building Details for 533 Albany Ave

OwnershipDevelopment Site
Building TypeVacant Lot
Learn More About the Building

Transit and Citi Bike

Citi Bike

Maple St & Albany Ave
0.02 miles
Lefferts Ave & Albany Ave
0.08 miles

Contact Agent

Contact Agent

Michael Amirkhanian
Cushman & Wakefield

Crown Heights | Brooklyn

Quick Profile

Originally known as Crown Hill by the Lenape Indians that lived there, Crown Heights has evolved into a diverse neighborhood, occupied primarily by Hasidic Jews and one of the largest Caribbean populations to be found anywhere outside of the West Indies. 

Head over to Nostrand Avenue, one of the main West Indian commercial areas in the neighborhood, which is lined with stores that have been in those exact same places for generations, providing their goods and services to area residents. Kingston Avenue has similar commercial activities that support the Jewish community, and Franklin Avenue shows the most signs of change and gentrification, with an ever-expanding mix of yoga studios, coffee shops, and organic grocery stores that serve the influx of young professionals. No matter which of these areas you visit, you will find an interesting mix of businesses that you wouldn’t normally picture as existing side-by-side. It is all part of the cultural diversity of Crown Heights.

The neighborhood is bisected, from east to west, by Eastern Parkway, which is a beautiful, 3-mile-long boulevard lined with mature trees. This leafy oasis was designed by Frederick Law Olmsted, famed designer of Central Park, the Biltmore Estate in North Carolina, and the U. S. Capitol in Washington, D. C.

You will find a mix of low-rise apartment buildings, large middle-class elevator buildings, brownstones, and some luxury buildings. Century-old architecture stands next to modern residential developments in a visually interesting mix of styles, much as the diversity of the residents exists. People who would not normally meet and mix are forging new pathways to cultural understanding by working, living, and playing together in the same neighborhood.

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 53691TH