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967 Nostrand Avenue, Brooklyn, NY 11225

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For Sale

$43,000,000

Estimated Payment

$      /mo. †

APR for 30 years

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Explore this Property

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.
MLS# 481740

Courtesy Of Weichert Realtors The Franzese

(718) 232-1004

Property Features

  • Architecture Style
    Other
  • Roof Type
    Unknown

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Directions to 967 Nostrand Avenue, Brooklyn, NY 11225

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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