533 Albany Avenue, Brooklyn, NY 11203

Crown Heights, Brooklyn, New York 11203

$1,600,000  

Listing ID Number

24811

Property Description

The subject property is a 31’ wide, residential development site, well situated in Crown Heights. The zoning allows for a 3.0 FAR, which lends 8,556 buildable square feet. A developer has the opportunity to further increase the total buildable square footage via the use of Community Facility. If implemented, the Community Facility bonus would add 5,134 square feet to the site, increasing the maximum buildable to approximately 13,690 square feet. Property is approved for construction of a six-story, nine-family building with community facility on the ground floor and recreation area on the sixth floor. The site is transit-oriented, with the 2,3,4,5 trains within close proximity, offering convenient access to Downtown Brooklyn and Manhattan within 25 minutes. The site also has access to many bus options, including the B12 line, along Albany Avenue. This offering presents a fantastic opportunity for a developer to invest in one of Brooklyn’s most sought after areas, and meet an already existing demand for new residential product.

Approved plans available upon request, please contact exclusive agents.

Overview

Building Type:Development/Conversion Sites
Location:East side of Albany Ave. between East New York Avenue and Maple Street.
Lot Dimensions:31 x 92
Lot Sq Ft:2,852
Buildable Sq. Ft:8,556 / 13,690
As-of-Right / CF Bonus
FAR:3.0 / 4.8
As-of-Right / CF Bonus

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

DJ Johnston
Director
(718) 307 6515
dj.johnston@cushwake.com

Brendan Maddigan
Executive Managing Director
(718) 307 6507
brendan.maddigan@cushwake.com

William Cheng
Director
(718) 606 7037
william.cheng@cushwake.com

Joshua Sabzevari
Associate
(718) 307 6521
joshua.sabzevari@cushwake.com


Property Images

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Property Map


Aerial View


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.