21,000+ Buildable SF Development Site | Prospect Heights - Crown Heights

Highlights:

• Two Contiguous Buildings
• 7,541 Existing SF
• 26,706 Gross ZFA
• Development Opportunity
• Split Zoning in M1-2A/R6A & M1-3A/R7D
• Prime Prospect Heights & Crown Heights Location

Description:

TerraCRG has been exclusively retained to represent ownership in the sale of 622 Classon Ave & 1026 Pacific St, a package of existing owner-occupied two-story warehouse buildings with future residential mixed-use development potential located within the recently rezoned area of prime Prospect Heights and Crown Heights. Situated just off Pacific Street between Classon Avenue, Dean Street, and Grand Avenue, the property offers a compelling combination of immediate usability, strong zoning fundamentals, and long-term redevelopment upside.
 
The offering consists of two contiguous, two-story buildings totaling approximately 7,541 sqft on a combined 5,680 sqft of land. The two-lot assemblage features 25 ft of frontage on Pacific St and 20 ft on Classon Ave. The properties are located within a split zoning designation of M1-3A/R7D and M1-2A/R6A (AAM), providing flexibility for a wide range of residential, mixed-use, or end-user configurations, subject to approvals.
 
From a development perspective, the site allows for significant density expansion. Under current zoning, the assemblage supports approximately 21,487 ZFA as-of-right, increasing to 26,706 ZFA with MIH affordability, offering a meaningful path to value creation in a proven residential corridor. The zoning profile and lot configuration make the site well-suited for a boutique residential or mixed-use development that aligns with the surrounding neighborhood scale and demand drivers.
 
For end-users or owner-occupants, the existing buildings provide immediate operational utility with the flexibility to occupy, reposition, or partially redevelop over time. The two-building configuration allows for phased use or future consolidation, while Prospect Heights’ strong demographic profile and proximity to major cultural, transit, and employment hubs support long-term ownership and appreciation.
 
The property benefits from close access to multiple subway lines, major thoroughfares, and the cultural anchors of Prospect Heights, Crown Heights, and Park Slope, reinforcing its appeal to both residential developers and owner-users seeking a strategic Brooklyn footprint.
 
Overall, 622 Classon Avenue & 1026 Pacific Street offer a balanced risk profile: near-term usability combined with clearly defined zoning upside in a neighborhood where warehouse space is becoming scarcer and the number of residential dwelling units is becoming more abundant.