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

Massey Knakal Retained Exclusively To Sell Two Corner Development Sites In Fort Greene

03/20/2013

Massey Knakal Realty Services has been retained on an exclusive basis to sell two, corner development sites at 840 and 882 Fulton Street, located in Brooklyn’s Fort Greene neighborhood. Combined, the lots measure approximately 18,681 square feet and potentially hold up to 87,612 square feet of available air rights.

840 Fulton Street, located on the southeast corner of Fulton Street and Vanderbilt Avenue, is an approximately 101’ x 98’ lot currently occupied by a gas station.  The site is located in a R7A/C2-4 zoning district and benefits from approximately 23,301 as-of-right buildable square feet.  In addition, approximately 520 buildable square feet from the neighboring property is included in the offer, for a total of approximately 23,821 buildable square feet.  The site benefits from an Inclusionary Housing bonus allowing the site an additional 8,927 buildable square feet for affordable housing development.  The property will be delivered vacant.

882 Fulton Street, located on the southwest corner of Fulton Street and Waverly Avenue, is an approximately 106’ x 107’ vacant lot, featuring approximately 215 feet of frontage along Fulton Street and Waverly Avenue.  The property is located in a R7A/C2-4 zoning district and benefits from approximately 41,1,48 as-of-right buildable square feet.  In addition, there is an Inclusionary Housing bonus, which allows for an FAR of 4.60, giving the site an additional 13,316 buildable square feet for affordable housing development, totaling 54,864 buildable square feet.  The property will be delivered vacant.

These properties are located within blocks of the Barclays Center and the Atlantic Terminal subway station, which provides access to over ten subway lines running through Manhattan, Brooklyn, Queens, the Bronx, and Long Island.

“These two corner development sites will have a dramatic effect on the Fulton Street corridor,” said Director of Sales Stephen Palmese, who is exclusively marketing these properties.

For more information on this listing, contact Stephen Palmese at 718.238.8999.

Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,500 transactions having a market value in excess of $17 billion.

www.masseyknakal.com

03/20/2013 - 15:33

Source

Cushman & Wakefield Capital Markets Group New York

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