545 Coney Island Avenue & 50 Hinckley Place, Brooklyn, Ny 11218
545 CONEY ISLAND AVENUE & 50 HINCKLEY PLACE, BROOKLYN, NY 11218 FOR SALE EXCEPTIONAL NEW DEVELOPMENT OPPORTUNITY IN PROSPECT PARK SOUTH PRESENTS OVER 53K BUILDABLE SQ FT
ZONING LOT SIZE FRONTAGE MAX ZFA R6A, C2-4 ±11,711 SF 125 Feet ±53,625
Development Site Advisors® is pleased to announce an exciting new development site on Coney Island Avenue. Located on the border of the Prospect Park South and Kensington neighborhoods, this site benefits from a superior location with over 125’ frontage on Coney Island Avenue, as well as close proximity to the Prospect Park South Historic District with gorgeous multimillion dollar Victorian mansions on picturesque tree-lined streets.
This property consists of two adjacent lots with a total gross square footage of ±11,711, improved by a warehouse building that will be delivered vacant at closing. Utilizing an additional 18,216 SF of air rights from an adjacent lot, the Residential ZFA is ±53,625 ZFA, the Commercial ZFA is ±34,541 ZFA, and the Community Facility ZFA is ±53,625 ZFA. This site is in the R6A zoning district with a C2-4 Commercial Overlay which allows for a mixed-use development with a retail base and residential units in the floors above.
545 Coney Island Avenue is an ideal candidate for development and is priced to sell. Don’t miss this opportunity to develop over 53K SF of a mixed-use building along Coney Island Avenue on a prime corner lot.
Location: East of Coney Island Avenue between Hinckley Place and Beverley Road
Block: 5114 Lots: 1,3,29 Block: 5114 Gross Square Footage: 8,334 SF Neighborhood: Prospect Park South Lots: 1,3
Lot Dimensions: 125.33’ x 97.42’ Lot SF: ±11,711 SF Air Rights 5114 / 1,3,29 Lot Zoning: R6A Commercial Overlay: C2-4
Residential FAR: 3.00 Residential ZFA: ±53,625* SF
Commercial FAR: 2.00 Commercial ZFA: ±34,541** SF Subject Property
Facility FAR: 3.00 Facility ZFA: ±53,625* SF
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Max As-of-Right: ±53,625 SF Air Rights: ±45,434 SF
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Tax Class: 4 Taxes (20/21): $44,169 5
*18,216 SF of Additional Air Rights from Lot 29, 7-Eleven **10,944 SF of Additional Air Rights from Lot 29, 7-Eleven
ASKING PRICE: $10,100,000 ±189/MAX ZFA OR LONG TERM GROUND LEASE: $400,000/YEAR
135 East 57th Street, 18th Floor Lev Kimyagarov Rubin Isak Elana Kapul New York, NY 10022 Managing Principal, Co-Founder Managing Principal, Co-Founder Director developmentsiteadvisors.com 212-875-1800 x 3484 212-875-1800 x 3488 212-875-1800 x 3485 [email protected] [email protected] [email protected]
©2021. Development Site Advisors®. All rights reserved. This document has been prepared by Development Site Advisors, LLC. (“DSA”) for use by a limited number of recipients. All information contained herein has been obtained from sources other than DSA, and neither Owner nor DSA, nor their respective equity holders, officers, directors, employees, and agents makes any representations or warranties, expressed or implied, as to the accuracy or completeness of the information contained herein. Further, this document does not constitute a representation that no change in the business or affairs of the property or the Owner has occurred since the date of the preparation of this document. All analysis and verification of the information contained in this document is solely the responsibility of the recipient. DSA and Owner and their respective officers, directors, employees, equity holders and agents expressly disclaim any and all liability that may be based upon or relate to the use of the information contained in this document. Please Note: Lot areas and floor areas are estimates, subject to Recipients verification. All figures and artistic renderings herein are for informational purposes only and must be independently verified by Recipient. Owner nor DSA make no representation herein and Recipient holds DSA and Owner and it’s representatives harmless.