538 Hendrix Street, New York, NY

Name: 538 Hendrix Street, For Sale in New York - eXp Realty
Brand: 1st American One NYC LTD
SKU: 1013705
Price: 999999 USD

House

For Sale

Listed price in listed location currency (USD).

$999,999

000

MLS® 1013705

Open House

Sat Jun 20, 1:00-3:00 PM EDT

Key Facts
Description
Map

Key Facts

Type Triplex

Levels Residential Income

Size -

Garage

Taxes $3,461

Days Active 0

Lot Size

Approx. Age 1901

MLS® Number 1013705

Property Address: 538 Hendrix Street, New York, NY, 11207

Average square foot calculated using Size range provided by listing agent.

Description

DEVELOPER ALERT: R5 Zoning Blockbuster – Grandfathered 2.42 FAR Multifamily in East New York! Description: Attention strategic developers, cash buyers, and value-add investors! 538 Hendrix Street presents an extraordinary Brooklyn anomaly: a massive, built-out multifamily footprint situated within a highly desirable R5 Zoning District. Legally classified as a 2-Family home but currently operating as a high-income 3-Family setup, this brick asset is a goldmine for cash buyers ready to maximize an existing footprint that is literally impossible to legally build from scratch today. The Footprint & Layout: • Unit 1: Highly rentable 3-Bedroom layout • Unit 2: Generous 2-Bedroom layout • Unit 3: Additional 2-Bedroom layout • Bathrooms: 3 Full Baths (one per unit) • Bonus Potential: Full, unfinished basement with independent access—ideal for building mechanical storage, tenant lockboxes, or potential duplex expansion. The R5 Zoning & Development Advantage: In an R5 district, new residential builds are strictly capped. However, this property grants you an incredibly valuable, grandfathered envelope: • Zoning District: R5 • Standard Max Residential FAR: 1.5 (Max Buildable Area: 1, 482 sq. ft.) • Current Built FAR: 2.42 (Current Built Area: 2, 391 sq. ft.) • The Math: This structure sits -909 sq. ft. OVER standard modern R5 residential limits. • The Opportunity: By executing an "As-Is" gut renovation or a variance-backed modernization of the existing structure, you preserve a massive layout advantage that a standard vacant lot or new construction simply cannot match. Terms & Disclosures: • INVESTORS, CASH, OR HARD MONEY BUYERS ONLY. • Property will be delivered completely AS-IS. • Configured as a 3-bed over 2-bed over 2-bed + unfinished basement. • Buyer is entirely responsible for verifying all zoning codes, certificates of occupancy, and navigating any future legal legalizations or variance optimizations with the NYC DOB.

MLS® Number1013705

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

Garage

Approx. Age1901

BasementUnfinished

DrivewayNone

Garage Spaces

Heat

A/C

Heating Fuel

Extras

Price History

-End Date

Not Sold YetSold Price

For Sale

Jun 15, 2026List Date

$999,999List Price

Commute

Commute

Starting Address

Destination Address

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