8,003 BSF Residential Development in East Flatbush
66 Martense Street
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66 Martense Street is located between Bedford and Flatbush Avenues and is zoned R7A, allowing for approximately 8,003 BSF. The lot has approximately 24 feet of frontage and is currently occupied byan864SFbuilding, delivered vacant.
Central Brooklyn and the area south of Prospect Park is one of the last areas in the borough with significant and immediate upside in rents and condominium prices. It is also one of the only areas in Brooklyn where land pricing still supports multifamily/rental housing development and large parcels of land are still undeveloped. This has made Central Brooklyn one of the most attractive areas for new ground-up development.
The Greater Flatbush region is one of the most sought-after neighborhoods in Central Brooklyn. Served by two major subway lines, multiple bus lines and bustling avenues, commercial property in greater Flatbush is being coveted for the current population density and future growth opportunities. Due to the increased demand to live in the neighborhood, residential rents have grown in this area, reaching over $45/SF. Furthermore, condo pricing in the area is upwardsof$875/SF.
The nearby Church and Flatbush Avenue retail corridors are lined with restaurants, cafés and national tenants such as Walgreens, IHOP, Bank of America, Chase, Citibank, Planet Fitness, Old Navy, Sears, and Dunkin’ Donuts. Major attractions include Prospect Park and the newly renovated Kings Theater. Kings Theater is one of New York’s premier performance arts venues having already hosted acts such as Diana Ross, Widespread Panic, Disney Live, and Crosby, Stills&Nash.
The property is only a few blocks from the 2 and 5 trains at the Church Avenue StationandaboutfiveblockstotheBand QtrainsattheChurchAvenueStation.