NO BROKERS AT THIS TIME, BUT WILL WORK WITH A BROKER IF THEY HAVE A CLIENT READY TO BUY. WILL CONSIDER HOLDING MORTGAGE FOR THE RIGHT DEVELOPER. CONTACT LOU AT 917 529 6005. 14,604 SF development site for sale in the Borough Park section of Brooklyn. The site situated on a 60 x 100 lot zoned R6 allows for residential development with a Floor Area Ratio of 2.43. Centrally located in the heart of Borough Park with close proximity to public transportation, roads and shopping. Suitable development uses include but are not limited to residential condo, residential rentals or a community facility building. Cost of development is projected at $2,800,000. The total cost of acquisition and development is projected at $7,600,000 allowing for a capitalization rate of return of 5.1 in year one after development. An alternate scenario allows for the property to be delivered as a condo development
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