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32334943
32334942

Union Street

McLellan Realty
Listed by McLellan Realty
$1,600,000
29 days on market
Updated 1 day ago
Details
Property Type Retail, Land
Sub Type Commercial
Square Footage 5,240
Zoning R4 (1.35) Height Limit 35’
Investment Type Redevelopment

Retail | 5,240 SqFt

Marketing description

The property is a 20' wide by 100' vacant lot, which is located on a tree line block off Eastern Parkway. The lot has a great location in the Crown Heights neighborhood, the 3, 4, and 5 trains are one block away on Utica Avenue and Eastern Parkway. The B46 Bus runs along Utica Avenue and goes to Kings Plaza.

The property is within walking distance to McDonald's, Popeyes, Chase Bank and V.I.M Clothing. Burger King and Fisher Man's Cove Restaurant. All these establishments are in the vicinity of Utica Avenue and Eastern Parkway. The site is also within walking distance to Prospect Park. When the units are built the buyer's will want to pay top dollar for them because of all the neighborhood has to offer.

The zoning only allows for a residential building to be built. The property would be ideal for a luxury single, two or three family building.

A 20' wide vacant lot on a nice residential block that close to fine retail stores and restaurants on Eastern Parkway and Utica Avenue. The property has easy access to the 2, 3 and 4 trains within 15 minutes the tenants or new owner of the property can be in Manhattan and within 10 minutes in downtown Brooklyn. The B46 bus runs along Utica Avenue and goes into the neighborhood of East Flatbush and to Kings Plaza.

The lot is located on a nice residential block, the zoning allows for a residential building to be built. The new property can be a single, a two or three family building. The property can have a front yard for plants and flowers or for on-site parking. There's an attic allowance of up to 20% for inclusion of space under the pitched roof. The basement can be duplexed with the first floor to get more square footage. The attic space would give an extra 540 square feet, plus the basement can be built full for 2,000 square feet below grade. That would be 2,540 square feet, plus the 2,700 square feet buildable. The property would be a total of 5,240 square feet basement included.

The property is located in an area that under a lot of development. When the units are built there will be a lot of demand for them from young professionals and artists from the city and the local neighborhood. They love the fact that Crown Heights via train is not far from the city and is close to Bedford Stuyvesant and Williamsburg where prices for units are less than Manhattan. All these factors makes this a prime development opportunity that a developer will enjoy developing.

Listing Contacts

McLellan Realty
Listed by McLellan Realty

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