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967 Nostrand Avenue, Crown Heights, NY, 11225 $20,000,000

Unimproved Land For Sale  

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Details ML#: 3562492  

  • Taxes: $39,027
  • Status:Active

Description

Lion Estates is pleased to present this exceptional development opportunity in the prestigious Crown Heights neighborhood of Brooklyn. This 15, 735 sq. ft. corner parcel features three sides of street frontage and is zoned R7-1 with a C2-3 overlay, offering extensive development potential. As of now, a developer can construct up to 75, 528 ZFA by designating a portion of the floor area for community facility use. Future ownership can capitalize on the site’s 354 feet of wrap-around street frontage, optimizing the corner location. The current ownership is undergoing a ULURP Process to secure rezoning. Preliminary plans have been crafted with Architectural and Engineering consultants for an unparalleled 249, 000 sq. ft. Mixed-Use project. The immediate vicinity is experiencing significant transformation. A 328-Unit Mixed-Use building has recently been constructed on the adjacent lot, allowing this development to benefit from the newly extended 421-A Program and substantially reduced taxes in this opportunity zone. Foundation work has been approved and finalized allowing new developer to reduce development timeline. The property benefits from its proximity to Brooklyn’s Prospect Park and excellent connectivity via car or public transportation. The 2/5 trains are accessible one block away at Sterling Street, with the Prospect Park B/Q station just minutes away, offering a connection to the Q train via the shuttle line. B43 and B44 buses stop within minutes of the property. This is an exceedingly rare opportunity to acquire a mixed-use site with vast development potential and unparalleled scale. This prestigious piece of highly sought after land, is located in a neighborhood undergoing rapid transformations and poised for significant growth .RECENTLY APPRAISED FOR 25 MILLION DOLLARS. Calling all Builders, Investors and Developers, don’t miss this once in a lifetime opportunity.

More Property Details

Property Features

Lot Size: 0.22   Lot Sq Ft: 9913  

Appliances & Utilities

Water: Public   Sewer: Public Sewer  

Financial

Taxes: $39,027  

Local Area Information

School District: Brooklyn 17   Zoning: Residential   Block: 1309   Lot: 17  

Listing Information provided courtesy of Lion Estates LLC  347-849-3897
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