Listed by Ariel Property Advisors
Unpriced
Details
Property Type Land
Sub Type Commercial, Development Site
Lot Size (SqFt) 131,136
Zoning C5-4, C6-4 or C6-4 .5/DB
Land | 131,136 SF
Marketing description
Ariel Property Advisors has been retained to market the disposition of 120,000 square feet of inclusionary air rights (IARs) in Brooklyn’s Community Board 2. This offering is an opportunity for owners of eligible properties, or “receiving sites,” to significantly enlarge the size of market rate developments located in Community Board 2 or within a ½-mile radius of the generating site (112 St. Edwards Street in Fort Greene, Brooklyn). For example, properties located within an R10 (or equivalent) zoning district can benefit from an increase in FAR from 10.0 to 12.0. Additionally, properties within an Inclusionary Housing Designated Area are eligible receiving sites.
Investment highlights
- These Inclusionary Air Rights Provide an Outstanding Opportunity to Maximize Both the Floor Area and Value of a Development Site.
- Inclusionary Air Rights
- 120,000 Buildable Square Feet That Can Be Sold Partially or in Their Entirety.
- Geographic Viability
- Only Properties That Meet the Iar Requirements in Brooklyn’s Community Board 2 or Within a ½-mile Radius of the Generating Site Are Eligible Receiving Sites.
- Applicable Zoning in Cb2
- Eligible Receiving Sites Are in Either R10 (or Commercially Equivalent) Zoning Districts or in Inclusionary Housing Designated Areas
Listing Contacts
Listed by Ariel Property Advisors
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