~37,500 ZFA Mixed-Use Development Site | Atlantic Avenue Rezoning Area

Highlights:

• Three Lot Assemblage
• 8,430 SF Total Lot Size
• 37,431 Gross MIH ZFA
• Dual Frontage (50ft on Pacific & 20ft on Classon)
• 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 1024-1026 Pacific St & 622 Classon Ave, a three-lot assemblage for residential mixed-use development located within the recently rezoned area of prime Prospect Heights and Crown Heights. Situated between Classon Avenue and Grand Avenue, the property offers a compelling combination of immediate usability, strong zoning fundamentals, and long-term redevelopment upside.

The offering consists of three contiguous brick warehouse buildings delivered fully vacant totaling approximately 10,291 sqft of built space on a combined 8,430 sqft of land. The three-lot assemblage features 50 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. Current zoning supports approximately 29,737 ZFA as-of-right, increasing to 37,431 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 three-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, 1024-1026 Pacific Street & 622 Classon Avenue 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.