118 Utica Avenue

Description

Vacant lot nestled between Bergen Street and St. Marks Avenue — Block 1354, Lot 47 — offering approved plans to build two beautiful, multi-level residences. This is a rare chance to acquire a shovel-ready development site in one of Brooklyn's most vibrant neighborhoods, with the design work, drawings and approvals already completed and in hand. Lot size is 13.17 x 50.67. Zoning is R6. Annual taxes are $1,200 with no tax abatement in place, which keeps the current carrying cost low while a buyer moves toward construction. The approved architectural plans include two spacious units. Unit 1 spans three levels and includes exclusive access to a private backyard, giving the lower residence real outdoor living space that is increasingly hard to find in the borough. Unit 2 also spans three levels and is crowned by a private rooftop oasis, an ideal spot for entertaining, gardening or simply taking in the skyline. Each unit is thoughtfully designed to include modern conveniences such as in-unit washers and dryers and dishwashers, the kind of details today's buyers and tenants expect from new construction. The value here is in the work already done. Anyone who has taken a Brooklyn infill site from raw land through design, filing and approval knows how much time, professional fees and uncertainty that process absorbs. This offering removes a substantial portion of that risk. A buyer steps in with an approved concept, a defined unit mix and a clear path forward, rather than starting at the drawing board and waiting on a lengthy review cycle. For a builder working on a schedule, that head start has real dollar value. The two-unit configuration also gives the eventual owner flexibility. A developer can build and sell both residences. An investor can hold the property and rent both units. An end user can occupy one three-level residence and let the second unit help carry the property, a strategy that has served Brooklyn owners well for generations. The private backyard on one unit and the private roof terrace on the other mean each residence has its own distinct outdoor amenity and its own appeal, rather than competing for the same buyer or tenant. The location speaks for itself. Sitting on the block between Bergen Street and St. Marks Avenue places the site in an established, well-connected part of Brooklyn with easy access to transit, shopping, dining and the daily conveniences that drive demand for new residential product. Blocks like this one continue to attract steady interest from buyers who want space, light and outdoor access without leaving the borough. Brownstone-lined side streets, neighborhood retail corridors and multiple subway options are all part of the everyday fabric here, and new residential product in this pocket of Brooklyn has consistently found an audience. This is a straightforward opportunity for the right buyer: a well-proportioned lot, favorable R6 zoning, low current taxes and approved plans for two thoughtfully designed multi-level homes. Sites that arrive this far along in the process do not sit long, and interest is expected to be strong from both builders and end users. Plans, survey and supporting documentation are available upon request. Serious inquiries are welcome and a buyer is encouraged to review the full package with their architect, expediter and lender. A rare opportunity to build in one of Brooklyn's most vibrant neighborhoods — don't miss it. Buyer and buyer's representative to independently verify all zoning, approved plans, permit status and expiration, lot dimensions, tax figures, buildable square footage and any other material information with the appropriate municipal agencies and licensed professionals. All information is deemed reliable but is not guaranteed and is subject to errors, omissions, change of price or withdrawal without notice. No representation is made as to what can ultimately be constructed on the site. Property is offered subject to prior sale.