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Map
$25,000,000
↓ $18M (41.9%)
●
Land -
For Sale
967 Nostrand Avenue
Brooklyn, NY 11225
Studio
0 Bath
$122,755
Estimated Monthly
About This Property
This is a trophy development opportunity in the coveted Crown
Heights neighborhood of Brooklyn, just moments away from Prospect
Park. This 15,735 SF corner gem boasts 3 sides of street frontage
and carries R7-1 zoning with a C2-3 overlay, offering excellent
scale and abundant development possibilities. As-of-right, a
developer can build up to 75,528 ZFA by allocating a portion of the
floor area toward community facility use. Future ownership will
also include a retail component and leverage the site's 354 feet of
wrap-around street frontage. Foundation work has been completed,
allowing the developer to take advantage of the new extended 421-a
program and substantially reducing the development timeline.
Current ownership is undergoing a ULURP process to secure a
rezoning. Preliminary plans have been prepared for a one-of-a-kind
249,000 SF mixed-use project. Contact exclusive agents for
additional information & due diligence. The immediate area is
undergoing unprecedented transformation. A 328 unit mixed-use
building just topped out on the adjacent lot .Across the street on
both sides of the block, two other 7-story developments are in
progress. The property benefits from proximity to Brooklyn's
Prospect Park and excellent connectivity by car or public
transport. 2,5 trains are accessible 1 block away at Sterling
Street, while the Prospect Park B Q station is minutes away with
connection to the C train via the shuttle line. B43 and B44 buses
stop within minutes of the property. Extremely rare opportunity to
acquire a mixed-use site with a vast number of development
possibilities and unparalleled scale, nestled on a tree-lined block
in a neighborhood undergoing rapid transformation. Madison Estates
Sotheby's International Realty - The Franzese Group and Revived
Commercial have Co-Listed this property.
Unit Size
-
Days on Market
51 days
Land Size
0.36 acres
Price per sqft
-
Property Type
Land
Property Taxes
-
HOA Dues
-
Year Built
-
Listed By
Last updated: 29 days ago (BMLSNY #481740)
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
May 30, 2024 | Price Decreased |
$25,000,000
↓ $18M
(41.9%)
|
|
Price Decreased | |||
May 7, 2024 | Listed by Weichert Realtors The Franzese | $43,000,000 | |
Listed by Weichert Realtors The Franzese |