2,120 SF Residential Development Site | Prospect Lefferts Gardens

Highlights:

• R6 Zoning
• 20 FT Lot Width
• Close proximity to Prospect Park
• Directly off Nostrand Ave Retail Corridor

Description:

TerraCRG has been exclusively retained to represent ownership in the sale of 337 Winthrop Street, a residential development site located in the heart of Prospect Lefferts Gardens, Brooklyn. The property sits just off the Nostrand Avenue retail corridor, between Nostrand Avenue and New York Avenue, offering immediate access to one of Central Brooklyn’s most active commercial strips.
 
The lot measures approximately 2,120 square feet and is 20 feet wide, zoned R6 (narrow street) allowing for a base residential ZFA of 4,664 SF. With the Universal Affordability Preference (UAP), developers can achieve up to 8,268 buildable square feet (BSF) — presenting a strong opportunity for boutique rental or mixed-income development.
 
Positioned just steps from the vibrant Nostrand Avenue corridor, the property is surrounded by a mix of national retailers, neighborhood shops, as well as numerous local cafes and restaurants that define the area's character. The site is also close to Brooklyn’s main thoroughfare, Flatbush Avenue. The property also enjoys proximity to Prospect Park and the recently restored Kings Theatre, a premier cultural venue hosting national and international performances.
 
Prospect Lefferts Gardens and the broader Central Brooklyn market remain one of the last submarkets in the borough with meaningful upside in both condo and rental pricing. Unlike many other areas in Brooklyn, land values here still support multifamily rental development, and large, underutilized sites are still available — driving an active pipeline of new boutique and mid-scale projects.
 
Transit access is convenient with the 2 and 5 trains located just a few blocks away at the Winthrop Street station along Nostrand Avenue, offering a quick commute to Downtown Brooklyn and Manhattan.