Overview

TerraCRG has been retained to exclusively represent ownership in the sale of the waterfront development site at 2433 Knapp Street. The property sits on the Shell Bank Creek of Sheepshead Bay.

The site is currently a 78,000 SF vacant Waterfront Residential development site out of which ~53,000 Sf (68%) of the site is below the median high water line of the Shell Bank Creek. Therefore, only ~25,000 SF of the site is usable residential development.

There is currently proposed plans for a 3 story, 24,084 SF building consisting of 18 residential units. The plans also call for 18 outdoor parking spaces and 36 boat slips. The 18 luxury residential apartments will comprise of approximately 22,475 net SF with units ranging between 1,010 SF to 1,830 SF, with a majority of the units overlooking the new docks and the water.

A real estate boom in Sheepshead Bay has brought a growth of condominium developments. Emmons Avenue, the northern shoreline street along the bay, has piers with an active seafood market and tour boats.

The main shopping and business thoroughfares are Emmons Avenue, Sheepshead Bay Road, Ocean Avenue, and Nostrand Avenue. Emmons Avenue is at the west end of the shore Greenway which lies between Shore Parkway and Jamaica Bay, connecting eastward and northward to Canarsie and Cross Bay Boulevard. Emmons Avenue is a waterfront road with piers from which yachts and boats offer day trips for fishing and dancing. Subway service to Sheepshead Bay is provided by the B and Q trains, with local stops at Avenue U and Neck Road, and express local stops at Kings Highway and Sheepshead Bay Road station.