Press Release brought to you by Cushman & Wakefield Capital Markets Group New York

Massey Knakal Retained Exclusively To Sell Residential Development Site In Flatbush

06/30/2014

Massey Knakal Realty Services has been retained on an exclusive basis to sell a residential development site at 608 Ocean Avenue. The property is located between Church Avenue and Albermarle Road in Brooklyn’s Flatbush/Prospect Park South neighborhood. The asking price is $3,750,000.

The subject site has DOB approved plans for 31 residential units totaling approximately 25,000 gross square feet on a 37.5’ x 150’ lot. A 421-a tax abatement will be secured for the next 15 years, minimizing operating costs. The offering presents one of the only development sites on the corridor and is a rare opportunity to develop near Church Avenue, Flatbush’s prime retail corridor.

The site is in one of Brooklyn’s most rapidly maturing neighborhoods, just three blocks from Prospect Park. The Q and B subway lines are two blocks away at Church Avenue offering 20 minute access to Downtown Brooklyn and Manhattan. 

“The site offers a substantial, turn-key development opportunity with a tax abatement, on one of Brooklyn’s more desirable avenues,” said Massey Knakal’s Michael Amirkhanian, who is exclusively marketing this property.

Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,700 transactions having a market value in excess of $19 billion.

www.masseyknakal.com

06/30/2014 - 08:31

Source

Cushman & Wakefield Capital Markets Group New York

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