Prime Williamsburg Development Opportunity

Description:

Ariel Property Advisors is pleased to announce that it has been exclusively retained to sell two adjacent buildings to be delivered vacant on Union Avenue in the Williamsburg neighborhood of Brooklyn. Ideal for a development opportunity, the 3,531 SF total lot area is zoned M1-2/R6A, MX-8. The combined lots provide a total “As of Right” Buildable Area of 9,535 SF and Buildable Area of 12,713 SF if utilizing Inclusionary Air Rights.

Located in a highly desirable location of Williamsburg, 621-623 Union Avenue is located directly across from McCarren Park. Residential rents in the neighborhood approach $70/SF and condominium sales are in the range of $1,400-1,600/SF.

Williamsburg is one of the most dynamic neighborhoods in all of New York City. Residents are able to live in close proximity to Manhattan and also take advantage of award-winning dining and nightlife options located in the immediate area. This location offers proximity to outdoor amenities including McCarren park as well as Domino Park located at the Williamsburg waterfront. Public transportation is also near this location. The Bedford Avenue station, which provides access to the L train, is only five blocks away and the Nassau Avenue Station which provides access to the G train, is directly across McCarren Park. Both trains facilitate swift access to Manhattan.

This offering represents a unique opportunity for a developer to capitalize on the demand for housing in one of the premier locations throughout Brooklyn.

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