~8,000 BSF Development Opportunity in Prime Williamsburg

Overview

TerraCRG has been exclusively retained to represent ownership in the sale of 92-94 N 9th Street, a premier residential development site located in the heart of prime Williamsburg, Brooklyn. Positioned between Wythe Avenue and Berry Street, this vacant lot sits directly across from The Hoxton Hotel and is nestled between two of Williamsburg’s most coveted green spaces: Bushwick Inlet Park and McCarren Park. This rare opportunity offers investors and developers unparalleled potential in one of New York City's most dynamic and high-demand neighborhoods. The property consists of a 33.34 ft x 100 ft lot with R6B zoning, allowing for flexible development options including condominiums, rentals, or townhomes. The base FAR of 2.0 yields 6,668 ZFA as-of-right for market-rate units. Under the City of Yes zoning amendments, the Universal Affordability Preference (UAP) program offers a 2.4 FAR bonus for rentals, allowing for 8,002 ZFA subject to income restrictions. The site is eligible for the 485x tax incentive, with either Option B or C providing a 10- or 35-year benefit. Alternatively, if the development consists of no more than 10 fully free-market units, it will qualify under the protected tax class 2A/2B. The site benefits from seamless transit access, located just a seven-minute walk from the Bedford Avenue L Train Station, which provides a direct commute to Manhattan in under five minutes. The North Williamsburg ferry terminal is also nearby, offering additional transit options to Midtown and Downtown Manhattan. The neighborhood is highly walkable and bike-friendly, with CitiBike stations conveniently located nearby.