Listed by BKREA
Unpriced
1086 Myrtle Avenue
Details
APN 1586/6
Property Type Land
Sub Type Commercial
Square Footage 10,000
Price per SqFt $239
Year Built 1917
Year Renovated 2014
Stories 3
Lot Size (SqFt) 5,000
Zoning C4-4L(R7A)
Land | 5,000 SqFt
Marketing description
BKREA has been retained to arrange the sale of 1086 Myrtle Avenue, a three-story office building with significant redevelopment potential in Brooklyn’s Bedford-Stuyvesant neighborhood.
Location Details
- Located on Myrtle Avenue, one of Bed-Stuy’s primary commercial corridors.
- Situated on a 5,000-square-foot lot.
- Existing improvements include a three-story, 10,000-square-foot office building.
- Originally built in 1917 and substantially altered in 2014.
Site Specifications
- Zoning: C4-4L (Residential Equivalent: R7A).
- As-of-right development potential: Up to 20,000 square feet.
- Permitted building height:
- 80 feet as-of-right.
- 90 feet with Inclusionary Housing.
Development Plans
- Opportunity to increase development potential to 25,050 square feet through the Universal Affordability Preference (UAP) bonus program.
- Flexible zoning supports residential and mixed-use redevelopment opportunities.
- Well-positioned for both market-rate and affordable housing development.
Neighborhood Demand Drivers
- Located within a dense and growing mixed-use neighborhood featuring residential, retail, and community facility uses.
- Strong demand from both market-rate and affordable housing developers.
- Benefits from Bed-Stuy’s continued growth, investment activity, and favorable zoning environment.
- Excellent transit connectivity via:
- J, M, and Z subway lines.
- G subway line.
- Multiple bus routes along Myrtle Avenue and surrounding streets.
- Midtown Manhattan accessible in under 30 minutes.
Opportunity Highlights
- Significant redevelopment upside with the ability to more than double the existing building size.
- Prime location on a major commercial corridor in one of Brooklyn’s fastest-growing neighborhoods.
- Attractive opportunity for residential, mixed-use, or affordable housing developers.
- Strong transportation access and renter demand support long-term value creation.
Investment highlights
- Zoning Opportunity - 1086 Myrtle Avenue is zoned C4-4L, the commercial equivalent of an R7A residential district, yielding approximately 20,000 square feet of as-of right buildable area at a 4.0 FAR. Through the Universal Affordability Preference bonus under City of Yes, the site unlocks up to approximately 25,050 square feet of total ZFA at a 5.01 FAR. The UAP bonus can be satisfied either through on-site affordable units or through the purchase of Inclusionary Housing Certificates, offering a developer the flexibility to achieve maximum density without a locating on-site square footage to affordable programming.
- Vacant Delivery - The existing building contains 10,000 square feet across three stories, consuming 2.0 FAR of the site's a lowable 4.0 FAR, leaving approximately 10,000 square feet of unused air rights as of right and up to 15,050 square feet when utilizing the UAP bonus. The C4-4L zoning designation provides broad use flexibility, permitting residential, commercial, and community facility development, giving a developer the ability to pursue a range of programs from a ground floor retail and upper floor residential mixed use building to a fu ly commercial or community facility driven project.
- Bedford- Stuyvesnat - B edford Stuyvesant ranks among Brooklyn's most dynamic and fast-growing residential submarkets, with strong demand from both market rate and affordable housing developers drawn to its scale, zoning flexibility, and deep renter base. Anchored by Fulton Street and Myrtle Avenue as its primary commercial corridors, a rich architectural fabric of landmarked brownstones, and a growing dining and retail scene, Bed-Stuy continues to attract end-users and investors with consistent absorption and sustained land value appreciation across the neighborhood
- Transportation - 1086 Myrtle Avenue benefits from exceptional public transportation access, with the J, M, and Z trains at Myrtle-Broadway and the G train at Flushing Avenue both within comfortable walking distance, connecting residents to Downtown Brooklyn, Lower Manhattan, and beyond. Multiple bus routes run directly along Myrtle Avenue and through the surrounding streets, providing layered transit coverage that complements the subway access. This density of transit options positions the site within one of Central Brooklyn's most connected corridors, a meaningful amenity for prospective tenants and a key driver of residential demand and lease up velocity.
Listing Contacts
Listed by BKREA
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