3435 R6A 4485 7920
525 EASTERN PARKWAY, BROOKLYN, NY 11216 VACANT 3-STORY MULTIFAMILY BUILDING WITH DEVELOPMENT RIGHTS | FOR SALE
3,435
Gross SF (Est.)
R6A
4,485
Zoning (FAR)
7,920
Air Rights (Approx.)
Buildable SF (Approx.)
Ariel Property Advisors has been retained on an exclusive basis to arrange for the sale of 525 Eastern Parkway, a 3-story walk-up building with unused air rights situated in the desirable Northern Crown Heights enclave of Brooklyn. Located on the north side of Eastern Parkway between Nostrand and Rogers Avenues, 525 Eastern Parkway is currently configured into 4 apartments across 3,435 gross square feet (est.) and benefits from an additional 4,485 buildable square feet of unused air rights. The asset will be delivered vacant and offers a developer the opportunity to reposition by adding square footage and units in a market where condos regularly sell for $1,000/square foot. 525 Eastern Parkway benefits from proximity to major attractions such as the Brooklyn Botanical Gardens, Brooklyn Museum and Prospect Park – New York City’s second largest public park. The property is less than a block away from Nostrand Avenue, one of Crown Heights’ primary retail corridors, and a short walk from Franklin Avenue, which has transformed into a destination for dining and nightlife. The property is across the street from the Nostrand Avenue (3) subway stop and 2 blocks from the President Street (2, 5) subway stop, providing access to Downtown Brooklyn in 10 minutes and Manhattan in 15-20 minutes. For more information about this opportunity, please contact our office.
PROPERTY INFORMATION
North side of Easter Parkway between Rodgers and Nostrand Avenues.
Sq. Ft. (Approx.)
Lincoln Place
1216
Sq. Ft. (Approx.)
37
Sq. Ft. (Approx.)
Eastern Parkway
ASKING PRICE: $2,500,000 FOR MORE INFORMATION PLEASE CONTACT OUR EXCLUSIVE SALES AGENTS AT 212.544.9500 I arielpa.nyc
FOR FINANCING INFO
Jonathan Berman x20
Paul McCormick x45
[email protected]
McNally S. Lee x60
[email protected]
Daniel Wechsler x44
[email protected]
[email protected]
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 the accuracy of any information provided herein. As an example, all zoning information, buildable footage estimates and indicated uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example, and does not necessarily relate to actual vacancy, if any. The value of this prospective investment is dependent upon these estimates and assumptions made below, 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 contained herein. June 29, 2017 10:03 PM
Nostrand Avenue
1261 / 37 25' x 105.58' 2,640 20' x 55' 3 3,435 4 R6A (3.00) 7,920 $92,862 $11,972
Rodgers Avenue
Block / Lot Lot Dimensions Lot Area Building Dimensions Stories Building Size Units Zoning (FAR as-of-right) Buildable Area (as-of-right) Assessment (17/18) Taxes (17/18)
TAX MAP
3,435
Gross SF (Est.)
R6A
4,485
Zoning (FAR)
7,920
Air Rights (Approx.)
Buildable SF (Approx.)
Ariel Property Advisors has been retained on an exclusive basis to arrange for the sale of 525 Eastern Parkway, a 3-story walk-up building with unused air rights situated in the desirable Northern Crown Heights enclave of Brooklyn. Located on the north side of Eastern Parkway between Nostrand and Rogers Avenues, 525 Eastern Parkway is currently configured into 4 apartments across 3,435 gross square feet (est.) and benefits from an additional 4,485 buildable square feet of unused air rights. The asset will be delivered vacant and offers a developer the opportunity to reposition by adding square footage and units in a market where condos regularly sell for $1,000/square foot. 525 Eastern Parkway benefits from proximity to major attractions such as the Brooklyn Botanical Gardens, Brooklyn Museum and Prospect Park – New York City’s second largest public park. The property is less than a block away from Nostrand Avenue, one of Crown Heights’ primary retail corridors, and a short walk from Franklin Avenue, which has transformed into a destination for dining and nightlife. The property is across the street from the Nostrand Avenue (3) subway stop and 2 blocks from the President Street (2, 5) subway stop, providing access to Downtown Brooklyn in 10 minutes and Manhattan in 15-20 minutes. For more information about this opportunity, please contact our office.
PROPERTY INFORMATION
North side of Easter Parkway between Rodgers and Nostrand Avenues.
Sq. Ft. (Approx.)
Lincoln Place
1216
Sq. Ft. (Approx.)
37
Sq. Ft. (Approx.)
Eastern Parkway
ASKING PRICE: $2,500,000 FOR MORE INFORMATION PLEASE CONTACT OUR EXCLUSIVE SALES AGENTS AT 212.544.9500 I arielpa.nyc
FOR FINANCING INFO
Jonathan Berman x20
Paul McCormick x45
[email protected]
McNally S. Lee x60
[email protected]
Daniel Wechsler x44
[email protected]
[email protected]
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 the accuracy of any information provided herein. As an example, all zoning information, buildable footage estimates and indicated uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example, and does not necessarily relate to actual vacancy, if any. The value of this prospective investment is dependent upon these estimates and assumptions made below, 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 contained herein. June 29, 2017 10:03 PM
Nostrand Avenue
1261 / 37 25' x 105.58' 2,640 20' x 55' 3 3,435 4 R6A (3.00) 7,920 $92,862 $11,972
Rodgers Avenue
Block / Lot Lot Dimensions Lot Area Building Dimensions Stories Building Size Units Zoning (FAR as-of-right) Buildable Area (as-of-right) Assessment (17/18) Taxes (17/18)
TAX MAP
