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

Massey Knakal Retained Exclusively To Sell Residential Development Site In Park Slope

08/13/2014

Massey Knakal Realty Services has been retained on an exclusive basis to sell a residential development site at 167-171 4th Avenue. The site is located on the corner of 4th Ave and Degraw Street in the heart of Brooklyn’s Park Slope neighborhood. The asking price is $6,500,000.

The site features over 100’ of wrap around frontage between 4th Avenue and Degraw Street. Under the current zoning C2-4/R8A, a developer could build approximately 19,200 square feet as-of-right. There is an Inclusionary Housing bonus, which would allow the site to mass approximately 23,000 square feet.

The site is located in the highly desirable Park Slope neighborhood of Brooklyn, known for its excellent schools, parks, shops and top rated restaurants. The property is within walking distance of the Barclays Center as well as Atlantic Terminal, which offers service to ten subway lines.

“Located on the corner of DeGraw Street, this site is a fantastic boutique, condo opportunity, and we suspect that a high-end project here will break future condo pricing records,” said Massey Knakal’s Stephen P. Palmese, who is exclusively marketing this site with Winfield Clifford.  “This development site is well-positioned in Park Slope, offering multiple transportation options, proximity to local retailers along 5th Avenue, and a variety of entertainment options from the Barclays Center to Brooklyn Boulders,” said Clifford.

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

08/13/2014 - 10:45

Source

Cushman & Wakefield Capital Markets Group New York

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