32-40 Nevins Street, Brooklyn, NY 11217-1036

Downtown Brooklyn, Brooklyn, New York 11217

$5,000,000  

Listing ID Number

19647

Property Description

32-40 Nevins Street is a 124.5’ x 60’ development site comprised of two recently demolished lots located on the northwest corner of Nevins and Schermerhorn Streets in Downtown Brooklyn. The site lies within a C6-4/DB zoning district with an FAR of 10.0 allowing for 74,700 SF of buildable rights for the potential development of residential, commercial or hotel use. The current zoning also allows for a community facility development giving an inclusionary housing bonus of 2.0 FAR, allowing for 89,640 SF of buildable rights. The property is also situated in the Special Downtown Brooklyn District (DB), which as been established to promote and support the continued growth of Downtown Brooklyn as a unique mixed-use area. Historically the economic, civic and retail center of the borough, Downtown Brooklyn is the city’s third largest central business district surrounded by historic residential neighborhoods. The location and diverse zoning regulations represent a unique opportunity for any future residential, commercial or community development.

Overview

Building Type:Development/Conversion Sites
Building Class:Vacant land
Block/Lot:166/38 & 40
Lot Sq Ft:7,470
Buildable Sq. Ft:74,700 (89,640 with Inclusionary Housing Bonus)
Zoning:C6-4/DB
FAR:10.0

Expenses

Real Estate Taxes:$25,451(Combination of both lots)

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

John F. Ciraulo
Vice Chairman, Partner
(212) 696-2500 x 7700
jciraulo@masseyknakal.com

Stephen Palmese
First Vice President of Sales
(718) 307-6552
spalmese@masseyknakal.com

Michael Azarian
Associate Director of Sales
(212) 696-2500 x 7749
mazarian@masseyknakal.com

Winfield Clifford
Associate
(718) 238-8999 x 7054
wclifford@masseyknakal.com


Property Images

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Property Map


Aerial View


Tax Map

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The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.