538 HENDRIX STREET · #1
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.
Price history
Every list / cut / contract / sold event we've recorded.
- listedJun 5, 2026$1000KListed by 1st American One NYC Ltd
In-building transactions
Every recorded deed (incl. private + sponsor) for this BBL - actual prices paid.
Open violations + recent permits
DOB / HPD signals for this BBL.
- A(A) § HMC:FILE ANNUAL BEDBUG REPORT IN ACCORDANCE WITH HPD RULE AS DESCRIBED ON THE BACK OF THIS NOTICE OF VIOLATION OR AS DESCRIBED ON HPDS WEBSITE, WWW.NYC.GOV\HPD, SEARCH BED BUGS.May 4, 2026
- A(A) § HMC:FILE ANNUAL BEDBUG REPORT IN ACCORDANCE WITH HPD RULE AS DESCRIBED ON THE BACK OF THIS NOTICE OF VIOLATION OR AS DESCRIBED ON HPDS WEBSITE, WWW.NYC.GOV\HPD, SEARCH BED BUGS.Jun 9, 2025
- I§27-2107 ADM CODE OWNER FAILED TO FILE A VALID REGISTRATION STATEMENT WITH THE DEPARTMENT AS REQUIRED BY ADM CODE §27-2097 AND IS THEREFORE SUBJECT TO CIVIL PENALTIES, PROHIBITED FROM CERTIFYING VIOLATIONS, AND DENIED THE RIGHT TO RECOVER POSSESSION OF PREMISES FOR NONPAYMENT OF RENT UNTIL A VALID REGISTRATION STATEMENT IS FILED.Nov 26, 2024
- A(A) § HMC:FILE ANNUAL BEDBUG REPORT IN ACCORDANCE WITH HPD RULE AS DESCRIBED ON THE BACK OF THIS NOTICE OF VIOLATION OR AS DESCRIBED ON HPDS WEBSITE, WWW.NYC.GOV\HPD, SEARCH BED BUGS.Apr 10, 2024
- A(A) § HMC:FILE ANNUAL BEDBUG REPORT IN ACCORDANCE WITH HPD RULE AS DESCRIBED ON THE BACK OF THIS NOTICE OF VIOLATION OR AS DESCRIBED ON HPDS WEBSITE, WWW.NYC.GOV\HPD, SEARCH BED BUGS.Mar 23, 2023
- I§27-2107 ADM CODE OWNER FAILED TO FILE A VALID REGISTRATION STATEMENT WITH THE DEPARTMENT AS REQUIRED BY ADM CODE §27-2097 AND IS THEREFORE SUBJECT TO CIVIL PENALTIES, PROHIBITED FROM CERTIFYING VIOLATIONS, AND DENIED THE RIGHT TO RECOVER POSSESSION OF PREMISES FOR NONPAYMENT OF RENT UNTIL A VALID REGISTRATION STATEMENT IS FILED.Nov 7, 2022
- I§27-2107 ADM CODE OWNER FAILED TO FILE A VALID REGISTRATION STATEMENT WITH THE DEPARTMENT AS REQUIRED BY ADM CODE §27-2097 AND IS THEREFORE SUBJECT TO CIVIL PENALTIES, PROHIBITED FROM CERTIFYING VIOLATIONS, AND DENIED THE RIGHT TO RECOVER POSSESSION OF PREMISES FOR NONPAYMENT OF RENT UNTIL A VALID REGISTRATION STATEMENT IS FILED.Feb 25, 2022
- A(A) § HMC:FILE ANNUAL BEDBUG REPORT IN ACCORDANCE WITH HPD RULE AS DESCRIBED ON THE BACK OF THIS NOTICE OF VIOLATION OR AS DESCRIBED ON HPDS WEBSITE, WWW.NYC.GOV\HPD, SEARCH BED BUGS.Feb 25, 2022
- A(A) § HMC:FILE ANNUAL BEDBUG REPORT IN ACCORDANCE WITH HPD RULE AS DESCRIBED ON THE BACK OF THIS NOTICE OF VIOLATION OR AS DESCRIBED ON HPDS WEBSITE, WWW.NYC.GOV\HPD, SEARCH BED BUGS.Apr 9, 2021
- I§27-2107 ADM CODE OWNER FAILED TO FILE A VALID REGISTRATION STATEMENT WITH THE DEPARTMENT AS REQUIRED BY ADM CODE §27-2097 AND IS THEREFORE SUBJECT TO CIVIL PENALTIES, PROHIBITED FROM CERTIFYING VIOLATIONS, AND DENIED THE RIGHT TO RECOVER POSSESSION OF PREMISES FOR NONPAYMENT OF RENT UNTIL A VALID REGISTRATION STATEMENT IS FILED.Oct 18, 2018
- I§27-2107 ADM CODE OWNER FAILED TO FILE A VALID REGISTRATION STATEMENT WITH THE DEPARTMENT AS REQUIRED BY ADM CODE §27-2097 AND IS THEREFORE SUBJECT TO CIVIL PENALTIES, PROHIBITED FROM CERTIFYING VIOLATIONS, AND DENIED THE RIGHT TO RECOVER POSSESSION OF PREMISES FOR NONPAYMENT OF RENT UNTIL A VALID REGISTRATION STATEMENT IS FILED.Nov 24, 2017
- BSECTION 27-2026 ADM CODE REMOVE ALL OBSTRUCTIONS AND REPAIR ALL DEFECTS IN AT WASTE PIPE AT BATH TUB IN THE BATHROOM LOCATED AT APT 1FL, 1st STORYFeb 19, 2011 · apt 1FL
- BSECTION 27-2005 ADM CODE PROPERLY REPAIR WITH SIMILAR MATERIAL THE BROKEN OR DEFECTIVE CERAMIC FLOOR TILES IN THE BATHROOM LOCATED AT APT 1FL, 1st STORYFeb 19, 2011 · apt 1FL
- BSECTION 27-2005 ADM CODE PROPERLY REPAIR WITH SIMILAR MATERIAL THE BROKEN OR DEFECTIVE CERAMIC WALL TILES IN THE BATHROOM LOCATED AT APT 1FL, 1st STORYFeb 19, 2011 · apt 1FL
- CSECTION 27-2005, 2007 ADM CODE REMOVE THE ILLEGAL FASTENING DOUBLE CYLINDER KEY OPERATED LOCK INSTALLED FRONT ENTRANCE DOOR TO BLDG.Jul 13, 1989