Buyers seek 3 ‘piano key’ properties in Brooklyn

Nearby landowners want to buy sites from DIA.

  • By
  • | 6:50 a.m. November 14, 2017
  • | 5 Free Articles Remaining!
  • Government
  • Share

The Downton Investment Authority’s Strategic Implementation Committee approved the sale of three small Brooklyn-area properties during its meeting last week. 

The properties often are referred to as “piano keys” because of their relatively small size and proximity to other thin, privately owned sites. 

The first is a 24-foot-wide parcel near Park and Stonewall streets behind The Brooklyn Riverside apartments. It was acquired by the city through a tax deed in 1981. 

Integra Realty Resources appraised the property in May at $17,600. 

Park Street Land Trust, which owns property just west of the parcel at Park and Stonewall streets, offered to purchase the 0.05-acre property at the appraised value with plans to eventually build multifamily housing on the combined land. 

The second property, just 4 feet wide, was appraised at $3,200 by Florida Valuation in April. It is near Elm and Jackson streets.

Owners of the property to the east, Jax Development LLC, agreed to buy the lot for the appraised value, with plans for residential development. 

The 588-square-foot property, acquired by the city through a quit claim in 1977, is near Brooklyn Park. 

The third property, a 0.08-acre site near Elder Street and Myrtle Avenue South, received an offer from IP Nuvo Jacksonville LLC, which owns a 0.73-acre property fronting Myrtle Avenue South.   

IP Nuvo is developing a self-storage facility. 

In February, Florida Valuation appraised the property, acquired through a tax deed in 2007, at $16,000. 

IP Nuvo would buy the property at that price plus any closing costs.  

It plans to build a real estate sales office behind the self-storage facility. 

The surrounding land is owned by the Florida Department of Transportation and is used as a buffer for Interstate 95. 

In all three cases, the DIA board would need to approve the purchase agreement, but since the transactions are below $25,000, any sale only would need final authorization from the mayor’s office, avoiding City Council approval. 

If the new property owners want to move forward with any projects, they would need to secure the development rights from the DIA. 



Special Offer: $5 for 2 Months!

Your free article limit has been reached this month.
Subscribe now for unlimited digital access to our award-winning business news.