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275 LIVINGSTON STREET BROOKLYN, NY 11217 Downtown Brooklyn | Corner Development Site with 120’ of Frontage | for SALE

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275 LIVINGSTON STREET BROOKLYN, NY 11217 Downtown Brooklyn | Corner Development Site with 120’ of Frontage | for SALE 275 LIVINGSTON STREET BROOKLYN, NY 11217 Downtown Brooklyn | Corner Development Site with 120’ of Frontage | FOR SALE Ariel Property Advisors has been retained on an exclusive basis to arrange for the sale of 275 Livingston Street, an outstanding shovel-ready corner development site in the heart of Downtown Brooklyn. The site has 120’ of frontage and a footprint of 4,432 square feet (“SF”). The property is currently improved by a vacant, 12,070-square- foot, 3-story commercial building. The C6-4/DB zoning district, in which the site is located, permits a base FAR of 10.0 for residential or commercial use, allowing for a buildable area of 44,320 SF as-of-right. The FAR can be increased to 12.0 by utilizing an inclusionary housing bonus, which increases the total buildable square feet (“BSF”) to 53,184 square feet. The sale of this site includes purchased Inclusionary Air Rights that can be used for a condominium development or a rental development utilizing the Affordable New York program. PROPOSED PLANS / SHOVEL-READY DEVELOPMENT SITE The current plans call for a mixed-use building that totals 65,356 SF above grade with 46,704 net sellable SF. The proposed unit mix includes 36 one-bedroom units, 7 two-bedroom units, and a ground floor retail unit. In addition to the proposed plans, which are pending approval, all pre-development work has been completed. This includes approved demolition permits and environmental (phase I) and geotechnical reports. DYNAMIC DOWNTOWN BROOKLYN LOCATION Downtown Brooklyn is the third largest Central Business District in NYC. It is considered one of the fastest growing neighborhoods in the country and is a vital hub of the borough. Within the past decade, over 500 companies have relocated to this area, furthering its continual renaissance in office, retail, hotel, and residential development. Major hubs of business include the MetroTech Center, Atlantic Terminal, and the Barclay’s Center. The area is also home to government and legal institutions, which include major courts of law and Brooklyn Borough Hall. Educational and cultural institutions are also omnipresent. NYU Tandon School of Engineering, Brooklyn Law School, and the Brooklyn Academy of Music are examples of the rich array of cultural and educational opportunities that benefit the area. Downtown Brooklyn has transformed into a 24 hour live, work, and play neighborhood with an abundance of entertainment and shopping options. UNPARALLELED TRANSPORTATION OPTIONS Six subway lines (including the A/C/E, 1/2/3, 4/5/6, N/Q/R, B/D/F, and G lines) are all within a 5-minute walk from the site. Access to Long Island is made possible by the LIRR at Atlantic Terminal. Additionally, there are also 16 bus lines that service the area. PREMIER DEVELOPMENT OPPORTUNITY Centrally located in the nation’s fastest growing downtown market, 275 Livingston Street presents prospective developers with a premier Downtown Brooklyn development opportunity. ASKING PRICE: $18,000,000 Rendering 275 LIVINGSTON STREET, BROOKLYN, NY 11217 Downtown Brooklyn | Corner Development Site | FOR SALE PROPERTY INFORMATION Block / Lot 161 / 1 Lot Dimensions 80' x 41' irregular Lot Size 4,376 Sq. Ft. (Approx.) Building Dimensions 41' x 80' Stories 3 Units 9 Building Size 12,070 Sq. Ft. (Approx.) Zoning C6-4, DB FAR 10.00 -12.00 Buildable Area 44,320 - 53,184 Sq. Ft. (Approx.) Gross SF (Above Grade)* 65,356 Sq. Ft. (Approx.) Zoning Floor Area* 52,003 Sq. Ft. (Approx.) Tax Class 4 Assessment (20/21) $1,034,100 Real Estate Taxes (20/21) $108,963 * Per proposed plans C6-4/DB 53,184 SF 65,356 SF 46,711 SF DOWNTOWN BROOKLYN Zoning Maximum Zoning Floor Area Gross Floor Area (Above-Grade)* Net Sellable Area* Location *Per proposed plans Fulton Street Flatbush Avenue N S Hanover Place Hanover Nevins Street Nevins Groove Place 60’ 75’ 41’ 80’ Livingston Street ASKING PRICE: $18,000,000 212.544.9500 arielpa.nyc For More Information Please Contact Our Exclusive Sales Agents at 212.544.9500 I arielpa.nyc For Financing Info Sean R. Kelly, Esq. x59 Michael A. Tortorici x13 David Khukhashvili x77 Jiani Zhou x72 Matthew Dzbanek x48 [email protected] [email protected] [email protected] [email protected] [email protected] The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee the accuracy of any information provided herein. As an example, all zoning information, buildable footage estimates and indicated uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example, and does not necessarily relate to actual vacancy, if any. The value of this prospective investment is dependent upon these estimates and assumptions made below, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. The prospective buyer should carefully verify each item of income, and all other information contained herein. 10 September 2020 7:09 pm 275 LIVINGSTON STREET, BROOKLYN, NY 11217 Downtown Brooklyn | Corner Development Site | FOR SALE 13 1 16 A PREMIER DEVELOPMENT OPPORTUNITY IN THE HEART OF BROOKLYN 4 14 3 Centrally located in the nation’s fastest growing downtown market, 17 275 Livingston Street presents prospective developers with the opportunity to capitalize on rapid residential absorption, retail A C rents at unprecedented levels, and unparalleled access to 2 3 2 4 5 transportation. 10 15 7 5 9 G Over the course of the past decade, Downtown Brooklyn has 11 benefited from more than $11 billion in public and private 6 investment and $400 million spent on infrastructure improvements. Within that time frame, over 500 B Q companies have relocated to the area, which offers abundant entertainment and cultural destinations, some D N of the finest shopping the city has to offer, and relative R 2 3 affordability in comparison to Manhattan. 4 5 12 8 Subject Properties 5 The Hub, Steiner Development 10 EVEN Hotel, InterContinental Hotel Group 15 The Lane at Boerum Place, Quinlan 1 Ava DoBro, Avalon Bay 6 300 Ashland Place, Two Trees Management 11 Brooklyn Academy of Music Development, Lonicera Partners 2 33 Bond Street, TFC Cornerstone 7 The Ashland, Gotham Organization 12 Barclays Center, Greenland Forest City 16 Brooklyn Point, Extell Development 3 9 DeKalb Avenue, JDS Development 8 Pacific Park, Greeland Forest City Partners 13 1 Willoughby Square, JEMB Realty 17 11 Hoyt, Tishman Speyer 4 CityPoint, Multiple Developers 9 The Pioneer Building, Quinlan Development Group 14 The Wheeler, Tishman Speyer 3 4 8 9 13 14 ASKING PRICE: $18,000,000 212.544.9500 arielpa.nyc For More Information Please Contact Our Exclusive Sales Agents at 212.544.9500 I arielpa.nyc For Financing Info Sean R. Kelly, Esq. x59 Michael A. Tortorici x13 David Khukhashvili x77 Jiani Zhou x72 Matthew Dzbanek x48 [email protected] [email protected] [email protected] [email protected] [email protected] The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee the accuracy of any information provided herein. As an example, all zoning information, buildable footage estimates and indicated uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example, and does not necessarily relate to actual vacancy, if any. The value of this prospective investment is dependent upon these estimates and assumptions made below, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. The prospective buyer should carefully verify each item of income, and all other information contained herein. 10 September 2020 7:09 pm 275 LIVINGSTON STREET, BROOKLYN, NY 11217 Downtown Brooklyn | Corner Development Site | FOR SALE FLOOR AREA CALCULATION FLOOR TO GROSS FLOOR ZONE STAIR/B.H. ACCESSORY ZONING FLOOR FLOOR HEIGHT FLOOR USE AEA (SF) GREEN (SF) MECH (SF) CELLAR (SF) AREA (SF) 18.0 ft. Roof MECH 2,172.7 N/A 275.5 1,897.2 0.0 11.0 ft. 28 MECH 2,172.7 24.5 0.0 1,789.6 358.6 16.0 ft. 27 RES 1,893.7 91.0 37.0 56.1 1,709.6 16.0 ft. 26 RES 1,893.7 91.0 37.0 56.1 1,709.6 16.0 ft. 25 RES 2,170.5 116.0 37.0 75.8 1,941.7 16.0 ft. 24 RES 1,893.7 91.0 37.0 56.1 1,709.6 16.0 ft. 23 RES 2,170.5 116.0 37.0 75.8 1,941.7 16.0 ft. 22 RES 1,893.7 91.0 37.0 56.1 1,709.6 16.0 ft. 21 RES 2,170.5 116.0 37.0 75.8 1,941.7 16.0 ft. 20 RES 1,893.7 91.0 37.0 56.1 1,709.6 16.0 ft. 19 RES 2,170.5 116.0 37.0 75.8 1,941.7 16.0 ft. 18 RES 2,170.5 116.0 37.0 75.8 1,941.7 16.0 ft. 17 RES 1,893.7 91.0 37.0 56.1 1,709.6 16.0 ft. 16 RES 2,170.5 116.0 37.0 75.8 1,941.7 16.0 ft. 15 RES 2,170.5 116.0 37.0 75.8 1,941.7 16.0 ft.
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