Closed 10/27/2014

Partially Constructed 4 Family Building

949 Pacific St

Prospect Heights

Closed 10/27/2014 at

Buildable SF 4,000
Approved Plans SF 4,120
Zoning R6B
Lot Size 20 ft x 100 ft
Cross Streets Washington Ave & Grand Ave
Other Transportation
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Development 949 Pacific St, Prospect Heights
Ofer Cohen
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Block_Lot 1124_57
Building Class V1
Lot SF 2,000
FAR 2.00


TerraCRG has been retained to exclusively represent ownership in the sale of the mid-construction development site at 949 Pacific Street, situated on the border of Prospect Heights and Crown Heights in Brooklyn. Located between Washington Avenue & Grand Avenue, the site comes with approved plans for 4,120 Gross SF, calling for 4 units, 3 floor through one bedroom apartments and 1 duplex two bedroom apartment.

The property is three blocks away from Vanderbilt Avenue, and a short distance from the Barclays Center, as well as Prospect Park, The Brooklyn Museum, Brooklyn Public Library and The Brooklyn Botanic Garden. Prospect Heights has seen tremendous transformation over the last decade. In just a few years, the area has seen luxury condo developments, strong retail, and a robust brownstone sales market that is rivaling neighboring Park Slope. Residential rents for new construction elevator buildings in Prospect Heights are projected at $55/SF and the lack of condo inventory in Prospect Heights created a surge in condo pricing over the last few months with recent pricing reaching above the $1,100/SF mark.

Four express Subway lines make the commute to Manhattan in 15-25 minutes which made the area a favorite of professionals working in Manhattan. The property is only three blocks from the Clinton Street C subway station. The 2 & 3 subway lines at Bergen Street subway station and the Q & B subway line at the 7th Avenue subway station are all only blocks away. The property is also only blocks from the Barclays Center with access to the 4,5,D,N,R,B,Q Trains plus the LIRR


In just a few years, Vanderbilt Avenue and Franklin Avenue have been established as true retail corridors. On Vanderbilt, over 20 food establishments have set up shop including some of Brooklyn’s most trendy restaurants. The Vanderbilt corridor draws from several different neighborhoods, uniquely located within close proximity to Park Slope, the park as well as Clinton Hill and Fort Greene.

Barclays Center
Prospect Park
Pacific Park
Brooklyn Botanical Garden
Brooklyn Museum
Brooklyn Public Library

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