Updated 12 hours ago
In contract
Prospect Heights, Brooklyn | Prospect Place & Saint Marks Ave
Development Site

$2,800,000
floors / apts2 / 3
Lot Size51'x100'
Building TypeLow-Rise
RE Taxes$8,148

Outdoor space and views

  • Frontyard

Property Description

Excellent development site or great rental income opportunity in prime Prospect Heights! This rare offering comes with 2 parcels that are included in the sale, and incredible possibilities for the investor. Parcel 1 is offered for $2,800,000, with Parcel 2 available for only an additional $199,000, greatly expanding the potential. On Parcel #1 (Block 1153/Lot 1) sit 3 structures, on a spacious 5,100+/- square foot lot. The front building is comprised of a ground-floor commercial store with a residential apartment above. The current deli/grocery store has a 3-year lease that expires in 2023. The residential unit is occupied but does not have a lease, and features a living room, kitchen, 2 bedrooms and a full bath. The middle structure is a vacant 3-story single-family house with a rear yard, living room, dining room, kitchen and half bath on the 1st story, 5 bedrooms and a full bath on levels 2 and 3, plus a full unfinished basement. At the rear of the parcel is another vacant house, a 2-story single-family with a front yard, living room, kitchen and half bath on level 1, 2 bedrooms on the upper floor, and a full basement as well. R6B zoning and 2.0 FAR allow for 12,000+/- square feet of total buildable square footage which affords so many options! Parcel #2 (Block 1153/Lot 70) is a vacant lot, measuring 25' x 42'17" (1,000 +/- square feet). Another way of capitalizing on the valuable vacant lot would be expansion of the one-family home, or creating an incredible side-yard paradise. However the property is used, the location is outstanding. Minutes to the shops and eateries along Vanderbilt and Washington Avenues, and in close proximity to enchanting Prospect Park.

Listing History

Now
03/22/2022
Contract Signed by Mohamad Hasan
Bellmarc
03/22/2022
$2,800,000
Initial Price by Mohamad Hasan
Bellmarc

Building Details

OwnershipDevelopment Site
Building TypeLow-Rise
AgePre-War
AccessWalk-up
Year Built1931
Floors/Apts2/3
Learn More About the Building

Prospect Heights | Brooklyn

Quick Profile

Prospect Heights is a small residential neighborhood surrounded by big attractions. It’s rich in culture and offers the perfect blend of old Brooklyn charm and modern-day hipness. 

Residents of this tight-knit community include young professionals, families and long-time residents. It’s a walkers paradise - just steps from Prospect Park and a short walking distance to neighborhoods like Downtown Brooklyn, Fort Green and Clinton. You’re close to culture too. Brooklyn Museum, Brooklyn Library, Brooklyn Botanical Garden, Brooklyn Academy of Music and the Barclays Center are all nearby.

Prospect Heights is bordered by Flatbush Avenue to the west, Washington Avenue to the east, Atlantic Avenue and Dean Street to the north and Eastern Parkway to the south.

Prospect Heights, like many areas of New York City, was first inhabited by indigenous tribes and eventually settled by the Dutch and turned into farmland. 

A significant part of the Revolutionary War was fought in Prospect Heights and the surrounding areas. Known as the Battle of Brooklyn, it was the first military engagement following the Declaration of Independence. Things didn’t go so well for American forces so they retreated and the British occupied Manhattan for several years after the Battle of Brooklyn.

In 1867, the opening of Prospect Park caused major housing growth in Prospect Heights. The middle-class neighborhood was soon populated by Jewish, Italian, and Irish workers. Many of which were shop-owners or employed as laborers in nearby factories.

Housing in Prospect Heights includes single-family row houses, historic townhouses, co-ops, and new luxury condos. The median listed price for a 1-bedroom in Prospect Heights is $680,000 with an average price per square foot is $944.

The neighborhood's commercial artery runs along Vanderbilt Avenue and Washington Avenue. The variety of businesses adds to the charm of the neighborhood. They include bars, pubs, restaurants and mom-and-pop stores of all types. The shops and eateries are a perfect alternative to the big-name attractions that bracket the neighborhood. It's a little bit of everything in this neighborhood. 

Subways are plentiful in Prospect Heights. Its proximity to Manhattan is another perk of the neighborhood. It's about a half-hour train ride. The B, D, N, Q, R, 2, 3, 4 and 5 subway lines all serve the Atlantic Avenue/Barclays Center station. 2, 3, 4, B and Q trains cover the neighborhood and the A and C trains are nearby too. 

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: 84048TH