For Sale | Residential Development Site | Opportunity Zone
$1,395,000
140 Central Avenue, Brooklyn, NY 11221
2,500 sqft
Lot Area
R6
Zoning
Details:
Description:
B6 Real Estate Advisors has been retained on an exclusive basis to arrange for the sale of 140 Central Avenue in the Bushwick neighborhood of Brooklyn.
• The subject property consists of vacant land on the south side of Central Avenue between Troutman Street and Willoughby Avenue.
• Property is situated in R6 zoning, with a 2.20 As-of-Right FAR, allowing for up to 5,500 BSF for residential development.
• The site would be eligible for Affordable NY (421a), a 35-year tax abatement, with 30% of the units being leased at 130% of AMI.
• Transportation options are available within 3 blocks to the train at Central Avenue and 4 blocks to the train at Jefferson Avenue.
• Property presents a fantastic opportunity for a developer to invest in one of Brooklyn’s most sought after areas, and to meet already existing neighborhood demand for luxury apartments or condos.
• Property is located within the Opportunity Zone giving investors the chance to defer capital gains for up to 10 years.
Documents:
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Investment Flyer
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Location
Gallery
