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1761 East 12th ST Brooklyn, NY 11229
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Key Details
Property Type Other Rentals
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 502080
Annual Tax Amount $47,454
Property Sub-Type Mixed Use
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.
Location
State NY
County Kings (brooklyn)
Area Midwood
Zoning R7A
Rooms
Basement Cellar, Finished, Full
Interior
Interior Features None
Hot Water Gas
Heating Gas
Flooring Carpeting, Ceramic, Hardwood
Heat Source Gas
Exterior
Exterior Feature Brick
Roof Type Asphalt/Tar
Building
Story 2
Foundation Poured Concrete
Others
Energy Description Gas
Financing 1031 Exchange,Bank Mortgage,Cash
Listed by Ashford Homes LLC
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