Скачать или смотреть 1st of the top 3 Brooklyn properties in contract last month

The 1st of the top 3 Brooklyn properties in contract last month was actually a few lots sold together!

76-82 First Place in Carroll Gardens includes a 5-unit brownstone, a parking lot, and a garage. According to (the extremely helpful website) Oasis, the lots together are 52.5 feet wide by 100 feet deep and have a max FAR of 3. Wondering what that means?

Very generally speaking, the maximum buildable square footage for a lot is the square footage of the lot (width * length) multiplied by the the FAR. Here, that number is 15,750 square feet, meaning the total square footage of all the floors of whatever is built on this lot can reach that number.

The brownstone presently on this lot is 25’ and wide and 6,404, so there might be a good opportunity to really expand on that!

Zoning laws, however, are REALLY complicated so there are also rules related to the maximum height of whatever is built and often the amount of setback required from the front and back of whatever is built and the front and back of the lot itself. And if landmarks are involved, things can get even more complicated.

It’s an interesting game trying to really maximize the value of a lot and its buildable square footage, but definitely one you want to play with as many knowledgeable professionals and possible. (At the very least, you’ll want to involve the right attorney, title company, and real estate agent, to make sure you understand any limitations and ultimately the potential value of the fully-built site.)

This property was first listed for sale in September 2022 asking $13.995M. It went into contract last month asking $12.5M.

I’ll post about the 2nd of the top 3 Brooklyn properties tomorrow!