1183 Flatbush Avenue BROOKLYN, NY TABLE of CONTENTS
REQUEST FOR PROPOSAL FOR 99-YEAR LEASEHOLD INTEREST 1183 Flatbush Avenue BROOKLYN, NY TABLE OF CONTENTS DEAL HIGHLIGHTS EXECUTIVE SUMMARY 4-5 ZONING ANALYSIS PRELIMINARY LEASEHOLD TERMS 6-7 COMPARABLES CONFIDENTIAL OFFERING 8-13 3 1183 FLATBUSH AVENUE DEAL HIGHLIGHTS EXECUTIVE SUMMARY On behalf of ownership, Lee & Associates is seeking proposals from well established, well qualified developers and end users for a 99-year triple net leasehold of the properties located at 1183-1189 Flatbush Avenue in Brooklyn, New York (“the properties.”) The properties are located in an R7A, R5B, C2-4 zoning district. There is currently a one-story building on the lot totaling approximately 7,000 SF of retail space. The properties offer developers and users the opportunity to build over 52,000 SF as-of-right. The R7A, R5B, C2-4 zoning offers unique flexibility in permitted uses including residential, commercial, and community facility. The zoning flexibility, coupled with the superior location and large lot size, offers developers the opportunity to capitalize on the high demand in Flatbush. FLATBUSH AVENUE 1183 ADDRESS 1183-1189 Flatbush Avenue, Brooklyn, NY 99 Year Leasehold Interest • 52,320 buildable square feet as-of-right OPPORTUNITY • Flexible “R7A, R5B, C2-4” zoning, ideal for residential or commercial use SITE DESCRIPTION • Large, efficient floorplates with 96 feet of frontage on Flatbush Avenue Brooklyn / 5188 / 13 & 14 • Surrounded by Q B 2 5 train stops BOROUGH / BLOCK / LOTS COMBINED LOT SIZE 13,053 SF 1183-1187 Flatbush Ave: 79.42’ x 147.83’ LOT DIMENSIONS 1189 Flatbush Ave: 16.08’ x 86.83’ FRONTAGE 96’ on Flatbush Avenue ZONING R7A, R5B, C2-4 MTA ADJACENCY Q B 2 5 Newkirk Avenue Subway Station TAX CLASS 4 2020/2021 TAXES $145,444 1183 Notes: FLATBUSH - The maximum community facility FAR is the same as the residential FAR for the site.
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