547 Atlantic Ave Brooklyn, NY 11217
Boerum Hill NeighborhoodEstimated payment $89,798/month
About This Lot
Prime development opportunity in the heart of Downtown Brooklyn. Located at 545-549 Atlantic Avenue, this assemblage offers exceptional potential just moments from the Barclays Center, Atlantic Terminal, and multiple subway lines. Situated within the R7A/C2-4 zoning district, the property provides approximately 21,600 buildable square feet and supports a wide range of mixed-use development possibilities. Rare opportunity to acquire a strategically located development site in one of Brooklyn's most dynamic and rapidly growing corridors. Buyers are advised to conduct their own due diligence regarding zoning, and development potential.
Hotel Development Opportunity
The proposed development envisions a luxury boutique hotel with integrated retail and parking components designed to maximize both room revenue and ancillary income streams.
Prime Atlantic Ave. frontage
Adjacent to Barclays Center and Atlantic Terminal
App. 21,600 buildable square feet
Strong transit connectivity
High barriers to entry for new hospitality developments
Opportunity for premium room rates driven by event demand
Proposed Program
Boutique Hotel: 55-75 Keys
Ground Floor Retail
Wellness / Spa Component
Rooftop Lounge or Event Space
Revenue Sources
Hotel Room Revenue
Food & Beverage Operations
Retail Rent
Parking Revenue
Event & Meeting Space Rentals
Wellness / Spa Revenue
Market Positioning
The property is positioned to capture demand generated by:
Brooklyn business travel
Downtown Brooklyn corporate offices
Brooklyn tourism
Visiting families and university-related travel
Illustrative Financial Outlook
Assuming:
65 Hotel Keys
Average Daily Rate (ADR): $325-$425
Occupancy: 75%-85%
Potential annual room revenue could exceed $6M-$8M before ancillary income.
Additional revenue generated through retail leasing, parking operations, food and beverage sales, and event programming may further enhance overall asset performance.
Property Details
Property Type
- Land
Est. Annual Taxes
- $24,312
Year Built
- Built in 1900
Lot Details
- 5,400 Sq Ft Lot
- Lot Dimensions are 60 x 90
- Property is zoned R7A DB C2-
Interior Spaces
- 7,590 Sq Ft Home
- 3-Story Property
Community Details
- Fuel Expense $10,500
- Insurance Expense $16,500
- Utility Expense $7,500
Listing and Financial Details
- Tax Block 180
Map
Home Values in the Area
Average Home Value in this Area
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2026 | $6,093 | $201,180 | $14,700 | $186,480 |
| 2025 | $6,046 | $184,680 | $14,700 | $169,980 |
| 2024 | $6,046 | $181,200 | $14,700 | $166,500 |
| 2023 | $5,768 | $160,140 | $14,700 | $145,440 |
| 2022 | $5,062 | $152,280 | $14,700 | $137,580 |
| 2021 | $5,024 | $130,380 | $14,700 | $115,680 |
| 2019 | $4,955 | $71,760 | $14,700 | $57,060 |
| 2018 | $5,274 | $23,667 | $5,816 | $17,851 |
| 2017 | $4,252 | $22,328 | $5,882 | $16,446 |
| 2016 | $3,902 | $21,067 | $6,660 | $14,407 |
| 2015 | $2,321 | $21,067 | $7,990 | $13,077 |
| 2014 | $2,321 | $20,905 | $9,520 | $11,385 |
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 08/04/2026 08/04/26 | Price Changed | $16,000,000 | -8.6% | $2,108 / Sq Ft |
| 07/01/2026 07/01/26 | Price Changed | $17,500,000 | -7.7% | $2,306 / Sq Ft |
| 06/20/2026 06/20/26 | Price Changed | $18,955,000 | +0.3% | $2,497 / Sq Ft |
| 06/15/2026 06/15/26 | Price Changed | $18,900,000 | -5.0% | $2,490 / Sq Ft |
| 06/08/2026 06/08/26 | For Sale | $19,900,000 | -- | $2,622 / Sq Ft |
Source: Brooklyn Board of REALTORS®
MLS Number: 502110
APN: 00180-0048
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The property information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing information is deemed reliable, but not guaranteed. The data relating to real estate for sale on this web site comes in part from the participating Brokers.
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