244 Saratoga Avenue, Brooklyn, NY 11233

244 Saratoga Avenue presents a rare opportunity to acquire a prime vacant residential development site in the heart of Bedford-Stuyvesant (Stuyvesant Heights), Brooklyn — one of New York City’s most dynamic and rapidly appreciating neighborhoods.

The property is a 1,015-square-foot interior lot measuring 17’6½” in frontage along Saratoga Avenue by 58’0” in depth, as confirmed by the recorded survey. Zoned R5B, the site permits the development of a one-family, two-family, or small multifamily residential building consistent with the established rowhouse character of the surrounding block.

Development Potential:

Under standard R5B regulations, the site supports a maximum FAR of 1.35, yielding approximately 1,370 square feet of buildable floor area with a maximum building height of 35 feet. Under the NYC Department of City Planning’s City of Yes for Housing Opportunity initiative — enacted in late 2024 — the site may qualify as a Qualifying Residential Site, allowing for an enhanced FAR of up to 2.0 and a maximum building height of 55 feet, yielding up to approximately 2,030 square feet of buildable floor area. Parking requirements are fully waived for lots under 40 feet wide located within a transit zone, which applies to this property.

Location & Transit:

The property is ideally situated for transit-dependent residents. The Saratoga Avenue Station (3 train — IRT New Lots Line) is within walking distance, providing direct service to Manhattan’s East Side. The A, C, J, and Z trains are accessible at Broadway Junction approximately 0.5 miles away, and the A and C trains are also reachable at Ralph Avenue. Multiple MTA bus routes serve the immediate area.

The site is proximate to the neighborhood’s primary commercial and dining corridors on Lewis Avenue, Tompkins Avenue, and Ralph Avenue, as well as Herbert Von King Park, Saratoga Park, and Eastern Parkway. The area is served by 22 public elementary schools and 4 public high schools.

Market Fundamentals:

Bedford-Stuyvesant continues to outperform broader Brooklyn residential metrics. As of early 2026, the neighborhood’s median home price reached $1.6 million, representing a 27.8% year-over-year increase. Residential price per square foot ranges from $850 to $1,100, and rental demand remains very strong — driven by a growing base of dual-income households, remote workers, and young families seeking quality housing in an authentic, amenity-rich neighborhood. The subject property represents a low-basis entry point into this high-demand sub-market with minimal annual carrying costs.

Key Investment Highlights:

• R5B zoning permits 1-family, 2-family, and small multifamily development

• City of Yes provisions may allow FAR up to 2.0 and height up to 55 feet

• No parking requirement — lot under 40 feet wide in transit zone

• Annual property taxes of only ~$964 — extremely low holding costs

• Walk to 3 train; near A, C, J, Z trains at Broadway Junction

• Bed-Stuy median home price $1.6M — up 27.8% year over year

• Similar infill lots in the area have been successfully developed into two-family homes and boutique condominiums

• Full survey on file confirming lot dimensions

A complete Offering Memorandum including survey, zoning analysis, comparable land transactions, and neighborhood market overview is available to qualified buyers upon request.