649 Pine St, Brooklyn, NY for sale

Investment Overview

Asset CRG Advisors, LLC has been exclusively retained to market 649 Pine St., a two-story, two-family building located in the East New York neighborhood of Brooklyn. The property sits on a 2,000 square foot lot with a two-story brick/masonry building that will be delivered vacant and in need of a full gut renovation, offering significant flexibility for repositioning, expansion, or redevelopment. Zoned R5, allowing for approximately 3,000 buildable SF as-of-right and approximately 1,400 SF of unused FAR, offering additional value through potential transfer to neighboring lots. The property features efficient lot dimensions and strong redevelopment potential in a neighborhood experiencing continued public and private investment and growth.

Investment Highlights

• Two-story two-family building in the East New York neighborhood of Brooklyn.
• Property sits on a 2,000 SF lot with a two-story brick/masonry building that will be delivered vacant and in need of a full gut renovation, offering significant flexibility for repositioning, expansion, or redevelopment.
• Zoned R5, allowing approximately 3,000 buildable SF under standard zoning and approximately 3,300 buildable SF within a Predominantly Built-up Area (PBA), with approximately 1,400 SF of unused FAR offering potential additional value through transfer to neighboring lots.
• Property benefits from efficient lot dimensions and strong redevelopment potential in a neighborhood experiencing continued public and private investment and growth.
• Conveniently located near the New Lots Avenue Station (IRT New Lots Line) and Pennsylvania Avenue Station (3 train), providing direct access to Downtown Brooklyn and Manhattan.