Residential Conversion in Bed-Stuy

524 Halsey Street

Bed-Stuy/Ocean Hill

$13,000,000

Lewis Ave & Stuyvesant Ave Cross Streets
16,500 Lot SF
39,425 SF Building Size
R6B Zoning
Subways
a
c
Development 524 Halsey Street, Bed-Stuy/Ocean Hill
Ofer Cohen
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Details

Stories 5
Block-Lot 1665-33
33,000 Gross BSF

Overview

TerraCRG has been retained to exclusively represent ownership in the sale of the residential conversion opportunity at 524 Halsey Street in the Stuyvesant Heights Historic District.

Located between two main thoroughfares; Lewis Avenue & Stuyvesant Avenue. The residentially-zoned garage building is zoned R6B, and has an existing 39,425 SF structure. This property has proposed plans to be converted into 29 residential condominiums and 6 townhomes, in one of the most sought after sections of Bedford Stuyvesant.

The property is surrounded by some of the best restaurants, bars and cafés in the neighborhood like Georges-Andre Vintage Café, Saraghina, The Rabbit Moon, and Therapy Wine Bar just to name a few.

The Stuyvesant Heights section of Bedford Stuyvesant also contains some of the most beautiful brownstones and tree lined streets in all of New York. Due to extremely high demand to live in the neighborhood, residential rents have exploded in this area with rents reaching over $50/SF. Furthermore, condo pricing in the area is upwards of $850/SF and townhouses in the neighborhood have been achieving prices between $1.5 to $2 million.

Attractions

Bedford Stuyvesant is centrally located between Clinton Hill, Williamsburg, Bushwick and Crown Heights. The neighborhood is continuously growing with new retail and residential developments aimed to meet the demands of families, young professionals, artists and students that are attracted to the neighborhood.

The property is short walk from the A & C trains at the Utica Avenue station. Also the B26 bus line is located on Halsey Street with the B15 passing along Lewis Avenue.

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