Mixed-Use Development Site
2339 Nostrand Avenue
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TerraCRG has been retained to exclusively represent ownership in the sale of the mixed-use development site at 2339 Nostrand Avenue, between Avenue I and Avenue J in Midwood, Brooklyn.
Located just one block away from the Triangle Junction and Brooklyn College, the 111 ft x 105 ft lot is zoned R6/C2-2 allowing for up to ~57,960 buildable SF with residential, retail and community facility uses.
The nearby Flatbush and Nostrand Avenue retail corridors are anchored by strong national tenants such as Target and Nike.
Other retailers in the area include Applebee’s, Men’s Warehouse, Payless Shoe Source, The Children’s Place, Modell’s Sporting Goods and Starbucks. The Avenue J retail corridor also runs through the neighborhood and includes prominent retailers including TD Bank and 16 Candles Frozen Yogurt, as well as Di Fara’s Pizza, an infamous NYC staple, and Touro College.
Midwood is one of the most established residential neighborhoods in Brooklyn. The greater Flatbush region is becoming one of the most sought-after areas 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 with rents reaching over $45/SF. Furthermore, condo pricing in the area is upwards of $850/SF.
The property is only a few blocks from the 2 and 5 trains at the Flatbush Avenue – Brooklyn College station and about a 15-minute walk to the Q train at the Avenue J Station.