Assignments

East Williamsburg Development Site

15 Seigel Ct, Brooklyn, NY 11206

15 Seigel Ct, Brooklyn, NY 11206

under contract

Asking
Sale Price
$
5240000

Property Details

Status
For Sale
Property Type
Residential Development Site
Price Summary
$
5240000
Sale Price
$
Buildable SF
12804
Building SF
12804
LOT SF
12804
Cap RATE
%
Zoning
R6

Highlights

  • 5,820 Sq. Ft. lot with a 2-family frame building
  • $116,400 gross income generated from 2 apartments and 4 parking spots
  • Zoned R6 allowing for a 12,804 Sq. Ft. residential building or 27,936 Sq. Ft. community facility
  • Mid-block lot with dimensions of 60' x 97’
  • Located .2 miles from the Morgan Ave L train subway stop for easy Manhattan access

Property DEscription

Landair Property Advisors has been hired on an exclusive basis to sell 15 Seigel Ct, Brooklyn, NY 11206 – an investment opportunity in the thriving East Williamsburg submarket. This 5,820 Sq. Ft. lot features a 2-family frame building currently generating $116,400 in gross income from two apartments and four parking spots. Lot dimensions are 60' x 97', situated on a mid-block lot. Zoned R6 on a narrow street, the property allows for a 12,804 Sq. Ft. residential building with market-rate apartments or a 27,936 Sq. Ft. community facility building. Located just 0.2 miles from the Morgan Ave L train subway stop, the property provides extremely easy access to Manhattan, enhancing its appeal for future residents. It is surrounded by new developments, contributing to the area's continued growth. East Williamsburg is a highly desirable area, where condo sellouts are expected to exceed $1,100 per square foot and rental pricing averages around $70 per square foot. This property presents a strong opportunity for investors in a rapidly developing neighborhood with strong market fundamentals.

Map

Dean Abouelhassan
Senior Associate
(516) 532-5385
da@landairnyc.com
Alexandre Goulet
Partner
(646) 559-4700
ag@landairnyc.com
Anand Melwani
Partner
(516) 658-1222
am@landairnyc.com
Tony Yu
Senior Associate
(646) 559-4700
TY@landairnyc.com

Documents

Offering Memorandum
Data Room

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