500 Meeker Ave, Brooklyn, NY 11222

Prime Greenpoint/Williamsburg Development Opportunity

Property Overview:

• Lot Size: 25' x 100' (2,500 SF)

• Lot Area: 1,904 sq ft

• Zoning: R6 / C2-4 (Wide Street)

• FAR: 3.0

• Buildable Square Footage (BSF): 7,500 SF

• Existing Structure: 1-story garage

• Asking Price: $2,650,000

Investment Highlights:

• Prime Location: Positioned at the vibrant intersection of Greenpoint and Williamsburg, this property boasts exceptional proximity to key transit hubs, dining, retail, and nightlife hotspots.

• Significant Development Potential: With permitted, developers can capitalize on residential, mixed-use, or boutique development opportunities.

• Flexible Zoning: R6 / C2-4 zoning on a wide street maximizes design possibilities and floor area efficiency.

• Existing Structure: The 1-story garage can be utilized as an interim space or easily cleared for redevelopment.

Location Advantages:

• Strategically situated between two thriving neighborhoods: Greenpoint and Williamsburg.

• Close to L and G subway lines for seamless Manhattan access.

• Surrounded by highly desirable retail, dining, and entertainment venues, driving strong demand for both tenants and end-users.

Financial Overview:

• Asking Price: $2,650,000

• Price Per BSF: ~$353

• Potential Sale Value (Upon Completion): Estimated $1,200 - $1,400 per SF for residential units, offering strong upside potential.

Development Strategy:

• Luxury Residential Condos: Maximize returns with upscale units targeting the affluent Williamsburg/Greenpoint buyer pool.

• Mixed-Use Development: Incorporate retail or office space on the ground floor for added revenue diversity.

• Rental Development: Capitalize on robust demand for well-designed rental apartments in this prime location.