This is a fantastic development opportunity in the heart of historic Ditmas Park, Brooklyn. Situated near East 22nd Street, this fully detached property sits on a spacious 7,250-square-foot lot measuring over 50 ft frontage and 154 lot depth with a ground elevation. Zoned R5/6 the site is well-suited for significant residential development, offering a maximum buildable area of over 14,000 square feet. Projected Numbers: $2.9 mil for property $300 per sq ft × 14,170 sq ft = 4.5 mil Soft costs $.5 mil Financing fees $.5 mil Miscellaneous. $.5 il Total cost= 8.9 mil 13,500 livable sq ft × $1,000 per sq ft = 13.5 mil. 13.5- 8.9 = 4.6 mil. 50% profit The existing structure is a two-family home built in 1899, measuring 24 by 29 feet and providing around 3,500 square feet of current space. There’s a tremendous amount of unused FAR and additional square feet of unused floor area, creating the potential to build a five-story structure with multiple units per floor. Based on zoning and preliminary plans, the site could accommodate up to 16 residential units. Located in a lively neighborhood, the property is close to the Brooklyn Botanic Garden and Prospect Park, giving future residents easy access to green space, a 60-acre lake, and a variety of recreational options. With nearby amenities and the charm of Ditmas Park’s tree-lined streets, this location offers a strong foundation for new development in a thriving community. Bring your architect—this is a development opportunity worth exploring. • Maximum Buildable Floor Area: over 14,000sq ft • Height: 5 Floors • Units: 16 Residential Units • Zoning: R5/6 • Lot Dimensions: 50x155 Preliminary plans and drawings available upon request, includes provisions of parking and outdoor spaces. Get in touch asap, present an offer or proposal. For any additional details and to discuss this opportunity further, please contact us directly.