Overview

TerraCRG has been retained on an exclusive basis to market the sale of 366 Leonard Street, a development site located between Frost St and Withers St, in the northern part of East Williamsburg, Brooklyn. The property consists of a 2,500 SF lot, which is currently improved by an existing 1,300 SF two-family building.

The offering will be delivered vacant with approved demolition plans. The opportunity is zoned M1-2/R6, MX-8 with 2.7 FAR and 6,750 ZFA as-of-right. The Voluntary Inclusionary Housing zone provides an FAR bonus of 3.6 and 9,000 ZFA.

The property is conveniently situated near the Brooklyn-Queens Expressway and within walking distance to Downtown Williamsburg and McCarren Park. Public transit options are located a few blocks away along Metropolitan Ave and Lorimer Street, giving access to the L subway line and the MTA bus lines.

In recent years, the neighborhood has seen a slew of large scale and boutique developments that include condominium, rental, retail, and hotel properties. Some recent notable developments include 88 Withers Street (33 units), 500 Metropolitan Avenue (Hotel Indigo, 187-keys, with 52 residential units), 785 Metropolitan Avenue (81 units), The Milk Factory (32 units), The Umbrella Factory (69 units) & 56 Ainslie Street (27 units).