A 7,020 SF development site in the Park Slope section of Brooklyn. The site situated on a 20 x 58.5 lot zoned C2-4/R8A allows for both residential and commercial development with a FAR of 6. Centrally located on 4th Avenue with close proximity to public transportation, roads, shopping, the Barclays Center and minutes to Manhattan. Suitable development uses include but are not limited to commercial buildings with a mix of retail and professional space, mixed-use buildings encompassing ground floor retail and residential units above or a residential condo building. Cost of development is projected at $250 PSF or $1,755,000. The total cost of acquisition and development is projected at $4,505,000 allowing for a capitalization rate of return of 5.9 in year one after development.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
