Five Lot Development Assemblage in Crown Heights
701 Prospect Place
Crown Heights
Closed at
B44, B45, B48, B49, B65
Long Island Rail Road
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718-285-9367
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Overview
TerraCRG has been retained to exclusively represent ownership in the sale of 701 Prospect Place, a five-lot development assemblage, located in Crown Heights, Brooklyn.
The five fully demoed and vacant lots (1415 Bedford Ave and 699-705 Prospect Place) total approximately 5,941 SF and have a total wrap around frontage of 105 ft, with 25 ft on Bedford Avenue and 80 ft across Prospect Place. The site is zoned R6A/C2-4, which allows for up to 2.0 Commercial and 3.0 Residential FAR, allowing an aggregate of 17,824 buildable SF.
Attractions
Crown Heights, a vibrant and charming neighborhood situated in the Central region of Brooklyn, has experienced something of a renaissance over the last decade thanks to a robust brownstone sales market, new residential development, and a strong retail revitalization, with the rise of rustic restaurants, bustling bars, trendy boutiques, and local coffee shops.
The lots are just a short distance from Prospect Park, the Brooklyn Children’s Museum, and numerous subway stations including Nostrand and Franklin Ave, which service the A, C, 2, 3, 4, 5 subway lines in addition to the LIRR, providing direct access to and from Downtown Brooklyn, Lower Manhattan, and other must-see areas of the city.