Nestled in the heart of a burgeoning neighborhood, 175 E 55th Street presents an exceptional investment opportunity for astute investors seeking prime real estate in a sought-after location. Situated on a spacious plot of land measuring 40 feet by 100 feet, this property boasts zoning approval for the construction of a six-family home, offering lucrative potential for both rental income and long-term capital appreciation. Strategically positioned within a vibrant community, this parcel of land offers convenience and accessibility, with close proximity to essential amenities including schools, shopping centers, dining establishments, and public transportation hubs. Its central location ensures easy access to major thoroughfares, facilitating seamless connectivity to neighboring districts and beyond. The approved plans for a six-family home align perfectly with the increasing demand for multifamily residences in the area, catering to the evolving needs of modern urban dwellers. Whether as a rental property or a condominium development, this project presents a lucrative opportunity to capitalize on the growing rental market or capitalize on the demand for residential units in the area. Moreover, the property's favorable zoning status streamlines the development process, reducing regulatory hurdles and expediting construction timelines, thereby maximizing returns on investment. Additionally, the dimensions of the land offer ample space for landscaping, parking, and outdoor amenities, enhancing the appeal and value of the proposed development. In summary, 175 E 55th Street represents a compelling investment proposition, combining an ideal location, favorable zoning, and a robust market demand for multifamily housing. With its potential for significant returns, this property is poised to become a cornerstone asset in any investor's portfolio. Don't miss out on the opportunity to capitalize on this prime real estate offering in one of the city's most promising neighborhoods.
Property Details
Property Features
Listing Office:
Office Name: WW Realty Group Inc
Office Phone: (917) 319-8892
Lot Features
Lot Information:
Lot Size: 0.05 Acres
Price Information
Listing Price Info
Price Summary:
List Price: $999,000
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Housing Market Comparison
See how this home compares to others in New York, NY.
This property is $153.5K more than the Median Sold Price in New York, NY.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: ONEKEY
MLS Number: #H6295536
Listing Office:
Office Name: WW Realty Group Inc
Office Phone: (917) 319-8892
Listings courtesy of OneKey MLS as distributed by MLS GRID.
All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
The source of the displayed data is either the property owner or public record provided by non-governmental third parties. It is believed to be reliable but not guaranteed.
Information Copyright 2024, OneKey™ MLS. All Rights Reserved. Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available. Last updated on: 4/27/2024, 4:11:14 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
7
/10
PS 268 Emma Lazarus
133 E 53rd St
Distance between this listing and this school0.27 miles
Public District Grades PK-5
4
/10
PS 135 Sheldon A Brookner
684 Linden Blvd
Distance between this listing and this school0.40 miles
Public District Grades PK-5
3
/10
PS 219 Kennedy-King
1060 Clarkson Ave
Distance between this listing and this school0.40 miles
Public District Grades PK-5
Nearby Schools
4
/10
East Flatbush Community Research School
905 Winthrop St
Distance between this listing and this school0.38 miles
Public District Grades 6-8
7
/10
Middle School For Art and Philosphy
1084 Lenox Rd
Distance between this listing and this school0.40 miles
Public District Grades 6-8
7
/10
Intermediate School 285 Meyer Levin
5909 Beverley Rd
Distance between this listing and this school0.50 miles
Public District Grades 6-8
Nearby Schools
7
/10
Kings Collegiate Charter School
1084 Lenox Rd
Distance between this listing and this school0.40 miles
Public Charter Grades 5-11
3
/10
Cultural Academy For The Arts and Sciences
5800 Tilden Ave
Distance between this listing and this school0.42 miles
Public District Grades 9-12
1
/10
Kurt Hahn Expeditionary Learning School
5800 Tilden Ave
Distance between this listing and this school0.42 miles
The neighbors living near this home have an average income of $94,703. Typical income of New York, NY residents is between $35k-100k annually. The most common type of family is single, no kids. Most residents in this area have post secondary degree education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 175 E 55th St
What is the listing price of this property?
The listing price of 175 E 55th St property is $999,000.
What type of property is this?
The property 175 E 55th St is land located in East Flatbush, New York, 11203.
Is this property for sale now?
Active Listing: 175 E 55th St is For Sale (Active/New) which means the seller is accepting offers.
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This home is located at 175 E 55th St in East Flatbush, NY and zip code 11203 in the East Flatbush neighborhood. This home sits on a 0.05 acre lot. It has been listed on Rocket Homes since March 18, 2024 and is currently priced at $999,000.
New York, NY housing market in March 2024 saw over 154 listings sold above listed price, more than 645 sold at listed price and over 748 sold below. The inventory of homes for sale in New York, NY between February 2024 and March 2024 increased by 3.7%. The median list price of listings available in March 2024 was $845,489, while the average time on the real estate market was 96 days.
From Rocket Homes Real Estate and based on county public records data.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. 
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