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Elegran Real Estate

office@elegran.com +1(212) 729-5712

Listing Courtesy of Serhant

$ 3,000,000

Est. payment -/mo

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New

620 E 40TH Street Brooklyn, NY 11203

6 Beds

4 Baths

1,927 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 1,927 sqft

Price per Sqft $1,556

Subdivision Farragut

MLS Listing ID RLS20037722

Bedrooms 6

Full Baths 4

HOA Y/N No

Year Built 1920

Annual Tax Amount $8,700

Property Sub-Type Multi Family

Property Description

Prime Development Opportunity in East Flatbush, Brooklyn - 80" x 100" Lot with Endless Potential! Introducing 620 East 40th Street, a rare and expansive 8,000 sq ft lot located in the dynamic and well-connected neighborhood of East Flatbush. This oversized parcel offers exceptional potential for developers and investors looking to capitalize on Brooklyn's continued growth. The property currently includes a large structure with 6 bedrooms, 4 bathrooms, a two-car garage, and a detached shed-delivering strong rental potential in its existing condition. With a double-wide 80-foot frontage and R4 zoning, this site is primed for transformative redevelopment. Key Development Highlights: As-of-right option: Build four 3-unit residences (approx. 2,000 sq ft each), totaling 12 residential units-well-suited for market-rate or affordable housing models. Community Facility Bonus: Pair residential development with a qualifying community use to push FAR to 1.4 (11,200 sq ft), eliminate parking requirements, and reach a max height of 35 feet (or 45 feet with AIRS). Take advantage of new zoning allowances under R4 that promote housing flexibility and density in growth zones like East Flatbush. Proximity to public transit, healthcare centers, and essential amenities enhances this site's long-term value and community impact. Whether your goal is a multi-unit investment portfolio, a boutique condo project, or a socially driven housing initiative, 620 East 40th Street offers a one-of-a-kind canvas in a high-demand Brooklyn corridor.

Location

State NY

County Kings

Rooms

Basement Other

Interior

Interior Features Smoke Free

Cooling Central Air

Fireplace No

Laundry In Unit

Exterior

Exterior Feature Private Outdoor Space Over 60 Sqft

Parking Features Assigned, Garage

Garage Spaces 2.0

Garage Description 2.0

View Y/N No

View Other

Porch None

Private Pool No

Building

Dwelling Type Townhouse

Story 1

New Construction No

Others

Pets Allowed Pets Allowed

Ownership None

Monthly Total Fees $725

Special Listing Condition Standard

Pets Allowed Building Yes, No

RLS Data display by Elegran Real Estate

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