~10,400 Buildable SF Development Site
3311 Newkirk Avenue
Closed 02/18/2015 at
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TerraCRG has been retained to exclusively represent ownership in the sale of the development site at 3311 Newkirk Avenue in the East Flatbush section of Brooklyn.
Located between East 34th Street and New York Avenue, property is zoned R6 for a total buildable of approximately 10,400. There is an existing two story house on the property that will be delivered vacant. The property is located outside the Geographic Exclusion Area therefore any new development may be eligible for 421-a tax exemption.
The property is located one block from thee Nostrand Avenue retail corridor with several notable tenants in the immediate vicinity including Citibank, Subway, McDondald’s, Papa John’s, Duane Reade, T-Mobile, Key Food, Metro PCS, and more. The property is also just a short distance from Brooklyn College.
The 2 & 5 subway lines located at the Newkirk Avenue subway station is one block away making the commute to Manhattan just 30 minutes.
New construction and conversion rental buildings in the area are achieving rents in $32/Sf- $42/SF range, and are expected to rise as the neighborhood continues to transform
East Flatbush borders are highly subjective, its northern border is roughly at Empire Boulevard and East New York Avenue east of 91st Street. East Flatbush is home to three major hospitals, Kings County Hospital, Suny Downstate Medical Center and Kingsbrook Jewish Medical Center. In Summer @006, the city renamed a portion of Church Avenue from Remsen Avenue to East 98th Street in East Flatbush as Bob Marley Boulevard.