355 Flatbush Avenue
4-STORY MIXED USE BUILDING WITH ADDITIONAL AIR RIGHTS
355 Flatbush Avenue Pro s pe c t H ei g h t s, B r ook l yn , N Y 1 1 238
Location:
On the east side of Flatbush Avenue between Sterling Place and Park Place in Prospect Heights
Block / Lot: Lot Dimensions: Ground Floor Dimensions: 2nd-4th Floor Dimensions: Stories: Gross Square Footage: Units: Lot Square Footage: Zoning: FAR: Total BSF: Existing SF: Additional Air Rights:
1164 / 10 25’ x 75’ 25’ x 75’ 25’ x 40’ 4 4,875 4 1,875 C2-4 / R7A 4.00 7,500 4,875 2,625
Assessment (14/15): Taxes (14/15):
$186, 183 $23,934
(approx.)(irr.) (sq. ft. approx.) (sq. ft. approx.) (sq. ft. approx.) (approx.)(irr.)
(sq. ft. approx.) (sq. ft. approx.) (sq. ft. approx.)
ASKING PRICE:
$3,750,000 Property Description:
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355 Flatbush Avenue is a mixed-use building with additional air rights located in Prospect Heights on the cusp of Park Slope. The subject property is currently improved by an approximately 4,875 SF, 4-story mixed-use building with retail on the ground floor, which has 7 years remaining on their lease, and 3 free-market residential units above. The ground floor is built full on the 75’ lot and floors 2 through 4 are built 40’ deep. The R7A zoning with a C2-4 overlay permits a total of 7,500 SF to be constructed on the lot, which allows for an additional approximately 2,625 SF to be built in addition to the existing structure.
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Located only one block north of Prospect Park and just steps away from local landmarks such as The Brooklyn Museum and The Brooklyn Public Library, this property is uniquely positioned as an opportunity to invest in one of the most desirable locations in Brooklyn where retail and residential demand continues to surge.
Prospect Park
75 ’
H US TB
’ 25
A FL
10
1164
AV UE NE
STERLING PLACE
VANDERBILT AVENUE
PARK PLACE
The site is conveniently located one block from the northwestern point of Prospect Park, with immediate accessibility to the 2, 3, and 4 express subways at Grand Army Plaza and the B & Q trains at the 7th Avenue subway station. The area boasts some of the best public schools, dining, shopping, farmer’s markets, and other amenities that continually draws affluent families and businesses to the neighborhood. These features have established a robust retail environment and have created an insatiable demand for new residences in a supply constrained neighborhood, making 355 Flatbush Avenue an unprecedented investment opportunity.
For further information or inspection, please contact Exclusive Agents:
Stephen Palmese
Vice Chariman [email protected] 718.307.6552
Michael Mazarra
Director of Sales [email protected] 718.606.7052
Thomas Freeland
Associate Director [email protected] 718.606.7021
James Berluti
Associate [email protected] 718.606.7053
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. 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.
205 Montague Street • Third Floor • Brooklyn, NY 11201 • 718.238.8999 • Fax 718.238.6091 www.cushmanwakefield.com
355 Flatbush Avenue Pro s pe c t H ei g h t s, B r ook l yn , N Y 1 1 238
Location:
On the east side of Flatbush Avenue between Sterling Place and Park Place in Prospect Heights
Block / Lot: Lot Dimensions: Ground Floor Dimensions: 2nd-4th Floor Dimensions: Stories: Gross Square Footage: Units: Lot Square Footage: Zoning: FAR: Total BSF: Existing SF: Additional Air Rights:
1164 / 10 25’ x 75’ 25’ x 75’ 25’ x 40’ 4 4,875 4 1,875 C2-4 / R7A 4.00 7,500 4,875 2,625
Assessment (14/15): Taxes (14/15):
$186, 183 $23,934
(approx.)(irr.) (sq. ft. approx.) (sq. ft. approx.) (sq. ft. approx.) (approx.)(irr.)
(sq. ft. approx.) (sq. ft. approx.) (sq. ft. approx.)
ASKING PRICE:
$3,750,000 Property Description:
Ave
e Av
rbilt
ush
355 Flatbush Avenue is a mixed-use building with additional air rights located in Prospect Heights on the cusp of Park Slope. The subject property is currently improved by an approximately 4,875 SF, 4-story mixed-use building with retail on the ground floor, which has 7 years remaining on their lease, and 3 free-market residential units above. The ground floor is built full on the 75’ lot and floors 2 through 4 are built 40’ deep. The R7A zoning with a C2-4 overlay permits a total of 7,500 SF to be constructed on the lot, which allows for an additional approximately 2,625 SF to be built in addition to the existing structure.
Ave
n Ave
ion
gto Washin
Vand e
tb Fla
Un
Atlan tic
St.
Located only one block north of Prospect Park and just steps away from local landmarks such as The Brooklyn Museum and The Brooklyn Public Library, this property is uniquely positioned as an opportunity to invest in one of the most desirable locations in Brooklyn where retail and residential demand continues to surge.
Prospect Park
75 ’
H US TB
’ 25
A FL
10
1164
AV UE NE
STERLING PLACE
VANDERBILT AVENUE
PARK PLACE
The site is conveniently located one block from the northwestern point of Prospect Park, with immediate accessibility to the 2, 3, and 4 express subways at Grand Army Plaza and the B & Q trains at the 7th Avenue subway station. The area boasts some of the best public schools, dining, shopping, farmer’s markets, and other amenities that continually draws affluent families and businesses to the neighborhood. These features have established a robust retail environment and have created an insatiable demand for new residences in a supply constrained neighborhood, making 355 Flatbush Avenue an unprecedented investment opportunity.
For further information or inspection, please contact Exclusive Agents:
Stephen Palmese
Vice Chariman [email protected] 718.307.6552
Michael Mazarra
Director of Sales [email protected] 718.606.7052
Thomas Freeland
Associate Director [email protected] 718.606.7021
James Berluti
Associate [email protected] 718.606.7053
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. 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.
205 Montague Street • Third Floor • Brooklyn, NY 11201 • 718.238.8999 • Fax 718.238.6091 www.cushmanwakefield.com
