50,280 BSF Development Site

Overview

The 24-foot-wide property is improved with a ~10,600 SF, two-story building and is situated within the Downtown Brooklyn Special Zoning District (C6-4/5-DB) which allows for the development of either ~50,280 FAR SF as of right for a retail, hotel and/or office, or ~41,900 FAR SF for retail and residential. The block-through property has over 24 feet of frontage on the Fulton Mall, along with almost 30 feet of frontage on Flatbush and DeKalb Avenue. The existing two-story retail building on the property currently has one NNN-leased master tenant with two years remaining on the lease, with one five-year option that is significantly below market. The surrounding properties have all been purchased for future development.