967 Nostrand Avenue Brooklyn, NY 11225

1 / 13

View all 13 Photos

Map

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.