72,060 BSF Development Site – East Flatbush
885 Rogers Avenue
East Flatbush
Closed 10/04/2018 at
$11,750,000 | $163 per SF
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718-768-6888
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Google MapsOverview
Located on the corner of Rogers Avenue and Snyder Avenue, the 111 x 225 lot is zoned R6/C2-3 allowing for the as of right development of ~72,060 residential buildable SF or ~137,664 buildable SF with community facility. The property is also located within the FRESH-eligible area, allowing for one additional square foot of floor area in mixed use residential development for every square foot provided for a grocery store; limited to 20,000 square feet. The gross buildable square footage with community facility plus the FRESH program is ~157,664.
The property is currently improved by a ~18,200 SF school building with over 110 feet of frontage on Rogers Avenue and over 80 feet of frontage on Snyder Avenue. The property will be delivered vacant.
Attractions
Central Brooklyn is one of the more attractive areas in Brooklyn for new ground up development. The area south of Prospect park is considered to be one of the last areas with significant immediate upside in rents. It is also one of the only areas in Brooklyn, where land pricing still supports multifamily/rental housing development and large parcels of land are still undeveloped.