Listed $519,000 · Unique 3-lot property · Tenant-occupied with rental income · Under contract
Live in New Dorp Beach? The buyers who came in second on 5 Milbank are still actively looking on this block.
New Dorp Beach, Staten Island • 3 Lots • $519,000
Welcome to 5 Milbank Road, a rare investment opportunity in the heart of New Dorp Beach, Staten Island. This single family bungalow sits on THREE separate lots (Lots 29, 30, and 31) totaling approximately 4,800 square feet of land, offering income, land ownership, and development potential all in one purchase. The house sits on Lot 31, which measures 60 x 40 feet. Lots 29 and 30 each measure 60 x 20 feet, providing additional buildable land or future development options.
The existing bungalow includes 2 bedrooms, 1 full bathroom, a finished basement with separate entrance, and a combined living and dining area. The property is currently leased through CityFHEPS at $2,600 per month, with the lease starting December 2025 and running through December 2026. This provides immediate, reliable income to offset carrying costs while you explore future plans.
Located in New Dorp Beach near New Dorp Lane, with easy access to shopping, restaurants, beaches, parks, and the Staten Island Railway. All three lots are sold together, giving buyers the ability to hold, develop, subdivide, or build in the future depending on their goals. Whether you are an investor, builder, or buyer looking for flexibility, this is a rare find on Staten Island.
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Joseph Ranola · Bridge and Boro at Real Broker
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