15 Seigel Court, Brooklyn, NY 11206

East Williamsburg Residential Development Site

15 Seigel Ct, Brooklyn, NY 11206 - an investment opportunity in the thriving East Williamsburg submarket. This 5,820 Sq. Ft. lot features a 2-family frame building currently generating $116,400 in gross income from two apartments and four parking spots. Lot dimensions are 60' x 97', situated on a mid-block lot. Zoned R6 on a narrow street, the property allows for a 12,804 Sq. Ft. residential building with market-rate apartments or a 27,936 Sq. Ft. community facility building. Located just 0.2 miles from the Morgan Ave L train subway stop, the property provides extremely easy access to Manhattan, enhancing its appeal for future residents. It is surrounded by new developments, contributing to the area's continued growth. East Williamsburg is a highly desirable area, where condo sellouts are expected to exceed $1,100 per square foot and rental pricing averages around $70 per square foot. This property presents a strong opportunity for investors in a rapidly developing neighborhood with strong market fundamentals.