967 Nostrand Avenue
$20,000,000
9,913 / 0.23
Permanently Off Market
Description
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,...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.
Property Details for 967 Nostrand Avenue
Township
Brooklyn
Zoning DescriptionResidential
Development StatusFeasibility Study Completed,Planned Unit Development
Section AreaMontgomery St
Offer PresentationCan be Present
LISTING UPDATED: 10/17/2024 01:23 PM
Property Details for 967 Nostrand Avenue
Status | Permanently Off Market |
---|---|
MLS ID | 3562492 |
Days on Market | 111 |
Taxes | $39,027 / year |
Maintenance | - |
Min. Down Pymt | - |
Total Rooms | - |
Compass Type | Land |
MLS Type | Land |
Year Built | 1920 |
Lot Size | 9,913 SF / 115' x 86' |
County | Kings County |
Building
Building Information for 967 Nostrand Avenue
Lot Size9,913 SF / 115' x 86'Building Age-Building Type-
Property Information for 967 Nostrand Avenue
Property History for 967 Nostrand Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 967 Nostrand Avenue
This home is within Nyc Geog District #17 - Brooklyn.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | PK to 5 | |||
Public - | 6 to 8 | |||
Public - | 6 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
P.S. 161 The Crown PublicPK to 5 | ||
Ms 61 Gladstone H Atwell Public6 to 8 | ||
Medgar Evers College Preparatory School Public6 to 12 | ||
W E B Dubois Academic High School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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