Active
967 Nostrand Avenue
Crown Heights NY, 11225
$20,000,000
$2,017.55 per sqft
Active
0.23 Acres
Land
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.
3562492
MLSⓇ ID
June 28, 2024
Listed
August 23, 2024
Updated
Map
967 Nostrand Avenue
Crown Heights NY, 11225
Exterior/Building Features
Lot Size
0.23 Acres
Lot Features
Cleared, Corner Lot
Sewer
Public Sewer
School Information
School District
Brooklyn 17
High School
Medgar Evers College Prep School
Other Property Details
Taxes
$39,027
Tax Frequency
Annually
Garage
No
View
No
County
Brooklyn
Municipality
Brooklyn
Water Source
Public
Pool
No
Listed by Lakeram Paul Cecil with Lion Estates LLC
Listing Contact: 347-849-3897
All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor The Novo Team shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
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Data last updated 12:09 PM UTC, 8/23/2024