Overview

TerraCRG has been retained to exclusively represent ownership in the sale of 27 E 18th Street – a 12,000 BSF development site located in a great residential neighborhood just below Prospect Park.

The offering presents the opportunity for a residential condo development zoned R7A with 4.0 FAR. The existing 3,200 SF mixed-use building is currently vacant.

The 124 ft x 48 ft site is located between Caton and Church Ave retail corridors with access to the B and Q trains on the corner as well as the 2 and 5 trains a few blocks east. Served by bustling avenues, commercial property in greater Flatbush is being coveted for the current population density and future growth opportunities. National tenants in the area such as Planet Fitness, Chase and IHOP along with thriving local businesses and major attractions, such as Prospect Park and Kings Theater, provide diverse commercial amenities.

Central Brooklyn and the area south of Prospect Park is one of the last areas in the borough with significant and immediate upside in rents and condominium prices, currently averaging about $1000/sf sellouts and $60/sf rents. This has made Central Brooklyn one of the most attractive areas for new ground up boutique and luxury development.