Listed by BKREA
$1,400,000
Pacific Street Parcel 01209-0013
Details
APN 01209-0013
Property Type Land
Sub Type Residential
Tenancy Vacant
Lot Size (SqFt) 2,143
Zoning R6
Investment Type Redevelopment
Pacific St Parcel 01209-0013 | 2,143 SqFt
Marketing description
BKREA has been retained to arrange the sale of Pacific St Parcel 01209-0013, a rare infill development opportunity in Crown Heights, Brooklyn.
Location Details
- Located on Pacific Street within the landmarked Crown Heights North Historic District.
- Steps from the Kingston Avenue subway station (A/C lines).
- Highly walkable and transit-oriented location (Walk Score: 95, Transit Score: 100).
Site Specifications
- Lot Size: 2,143 square feet.
- Delivered vacant with no existing structure.
- Zoning: R6.
- As-of-right buildable area: approximately 4,714 square feet (2.20 FAR).
Development Plans
- Universal Affordability Preference (UAP) allows increase to 8,357 buildable square feet (3.90 FAR).
- City of Yes provisions enable up to 10,286 square feet (4.80 FAR).
- Offers multiple pathways to maximize residential density.
Neighborhood Demand Drivers
- Crown Heights is a rapidly growing and highly desirable Brooklyn neighborhood.
- Condo median asking price: $1.175 million (2025), up 2.3% year-over-year.
- New development pricing: $1,301 per square foot, up 23.5% quarter-over-quarter.
- Median rents: $3,150, reflecting strong and sustained rental demand.
- Continued absorption of high-quality residential product supports new development.
Opportunity Highlights
- Rare vacant infill site in a landmarked historic district.
- Strong pricing support for new construction projects.
- Excellent transit accessibility and neighborhood appeal.
- Compelling opportunity to develop in one of Brooklyn’s most sought-after residential markets.
Investment highlights
- Zoning Opportunity - The Pacific Street parcel is zoned R6 and offers 4,715 square feet of as-of-right residential buildable area at a 2.20 FAR. Through the Universal Affordability Preference under City of Yes, the site unlocks up to 8,357 SF at 3.90 FAR, with a total buildable envelope reaching 10,286 SF at 4.80 FAR.
- 485x Eligible - The Pacific Street parcel is eligible for the 485-x tax incentive available to new residential projects of six or more units commencing construction before June 15, 2034. Qualification requires a minimum of 20% permanently affordable units, delivering developers a significant long-term tax exemption benefit.
- Landmark Considerations - The Pacific Street parcel is located within the Crown Heights North Historic District, designated by the NYC Landmarks Preservation Commission in 2007. Any new construction on this site will require LPC review and approval, ensuring architectural compatibility with the surrounding historic streetscape. Prospective buyers are strongly advised to consult with their own legal, zoning, and preservation counsel to fully evaluate design and development implications prior to closing
- Advantageous Accessibility - The Pacific Street parcel offers exceptional connectivity, with the A and C subway lines just 0.2 miles away at Kingston Avenue and Fulton Street. Multiple MTA bus routes, including the B45 and B65, serve the immediate area, and the site boasts a perfect Transit Score of 100 and Walk Score of 95, placing residents steps from everything Brooklyn and Manhattan have to offer.
Listing Contacts
Listed by BKREA
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