Residential Development Site in Fort Greene

133 Carlton Avenue

Fort Greene

Cross Streets Myrtle Avenue and Park Avenue
Lot Dimensions 22.25 ft x 100 ft
Lot SF 2,225
Subways
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Other Transportation
LIRR
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Residential Development 133 Carlton Avenue , Fort Greene
Peter Matheos
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Details

Opportunity Zone Yes
Zoning R6B

Overview

TerraCRG has been retained exclusively to represent ownership in the sale 133 Carlton Avenue, a residential development site located between Myrtle and Park Avenues in the heart of residential Fort Greene.

The property is 22.25 x 100 ft, zoned R6B, allowing approximately 4,450 BSF as-of-right in a designated Opportunity Zone. The site is currently a vacant lot that was previously used as a religious facility and has recently been demolished.

133 Carlton Avenue is conveniently located just steps away from Fort Greene Park, the Brooklyn Navy Yard and the Myrtle Avenue retail corridor. Fort Greene is also home to many of Brooklyn’s higher education institutions such as the Pratt Institute, St. Joseph’s College and LIU Brooklyn. Major new developments in the surrounding area include 86 Fleet Place (The Eagle), 141 Willoughby Street, and 112 St. Edwards Street, with more new construction units in the pipeline. Rentals in the area are achieving $65/SF and condos are achieving north of $1,200/SF.

 

Attractions

Over the years, Fort Greene has seen staggering changes to its real estate landscape, with the growth of the Brooklyn Cultural District continuing to attract new investment in the surrounding neighborhood and resulting in an influx of mixed-use amenities. The neighborhood’s proximity to Downtown Brooklyn and accessibility to over 10 subway lines and the LIRR makes it particularly favorable for new developments, while at its heart, Fort Greene Park gives the neighborhood a spacious and natural feel that is desirable for owners and renters alike.

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