1197 Broadway
Land | 9,000 SF
Marketing description
Premier Development Opportunity at 1197 Broadway, Brooklyn, NY 11221
**Offering Price: $7,500,000.00
Nestled in the vibrant heart of Brooklyn, 1197 Broadway represents a rare and unparalleled development opportunity in one of New York City's most dynamic neighborhoods. This prime mixed-use development site, spanning a generous 9,000 square feet, is perfectly poised for a visionary project that capitalizes on Brooklyn's booming rental and condo markets.
**Key Features:**
- **Lot Size:** 9,000 sq. ft.
- **Zoning:** R6 with a C1-3 Commercial Overlay
- **Maximum FAR:** 4.8, allowing for a diverse mix of residential, commercial, and community facility uses.
- **Buildable Square Footage:** Up to 43,200 sq. ft. for a varied mix of uses that align with community needs and market demand.
- **Current Structures:** The site currently houses a garage and a retail store, primed for demolition to make way for new development.
- **Utilities:** Fully equipped with sewer, water, and electricity, ensuring a smooth start to construction activities.
Investment highlights
*Development Potential:**
- **Residential:** Max FAR of 3.0, ideal for creating high-demand housing units in a neighborhood celebrated for its culture and community.
- **Commercial:** A C1-3 overlay permits a commercial FAR of 0.9, offering ground-floor retail opportunities that cater to the bustling local and visitor foot traffic.
- **Community Facility:** Take advantage of a 0.9 FAR for community facilities, adding valuable amenities or services to the vibrant local ecosystem.
- **Mixed-Use Versatility:** The zoning allows for a strategic blend of residential, commercial, and community spaces, maximizing the site's potential and aligning with the area's growth trajectory.
**Location Highlights:**
Situated in the heart of Brooklyn, 1197 Broadway is at the epicenter of accessibility, convenience, and urban appeal. With a strong rental and condo market, the site offers an exceptional canvas for a landmark development. Proximity to public transportation, parks, schools, and an array of dining and shopping options underscores the location's desirability for future residents and businesses.
**Opportunity Awaits:**
This development site presents a not-to-be-missed chance for developers to imprint their vision on Brooklyn's skyline. With its strategic location, robust zoning allowances, and a clear path for an impactful mixed-use project, 1197 Broadway is poised to become a cornerstone of community and innovation.
For further details, inquiries, and to discuss potential plans, please contact us at 212-365-0036.
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