Flatbush Residential Development
For Sale
Contact for pricing
274 E 32nd St, Brooklyn, NY
Residential development opportunity in Flatbush with approved DOB plans.
Property SizeContact for details
Lot Size0.09 Acres
Days on Market599
Property Features for 274 E 32nd St
General Information
Standard status
Active
Lot size
0.09 Acres
Property subtype
LAND
Listing Agency:
TerraCRG Commercial Realty Group
(516) 974-2393
Listed By:
Chris Braxton · License #10401334261
(917) 231-4171
Source:
Moodyscre
Added: Dec 18, 2024
Changed: Aug 8
Last Checked: Jul 16 at 5:17AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of TerraCRG Commercial Realty Group
Investment Insights
Based on property information with market context.
This offering presents a residential development opportunity in Flatbush, located at 274 E 32nd Street, between Cortelyou and Clarendon Road. The vacant 4,000 SF lot features 40 ft of frontage and is zoned R6, allowing a 2.2 Residential FAR for 8,800 ZFA. The property has DOB approved plans for two 3-story three family buildings. The location is on a tree-lined residential block between Nostrand and New York Avenue retail corridors, a few blocks from the 2 and 5 subway trains at the Beverly Road stop, providing access to Greater Downtown Brooklyn and Manhattan in 20-30 minutes. Local amenities and activities are available at Kings Theater, Prospect Park, Brooklyn College, and Barclays Center. The property may qualify for Option B or C of the new 485x tax abatement program, depending on the number of dwelling units, to receive a 10 or 35-year exemption. Additionally, the Mayor’s City of Yes proposal, if approved, would increase the allowable residential FAR to 3.9 under the UAP framework, waive parking requirements, and reduce the minimum unit density factor, potentially allowing for a larger building with more units. Commercial property in Flatbush is noted for its population density and future growth opportunities, with a mix of national tenants and local family businesses.
Key Highlights
- DOB approved plans for two 3‑story three family buildings.
- Potential for a significant tax break with a 10 or 35‑year tax exemption under the 485x tax abatement program.
- Located in Flatbush, a submarket poised for growth in rents and condominium values.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,550
Businesses Nearby
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Frequently Asked Questions
What type of property is this?
Land - Residential development opportunity in Flatbush with approved DOB plans.
Where is this land located?
The property is located at 274 E 32nd St Brooklyn, NY.
What are key features of this property?
This property features: DOB approved plans for two 3‑story three family buildings.; Potential for a significant tax break with a 10 or 35‑year tax exemption under the 485x tax abatement program.; Located in Flatbush, a submarket poised for growth in rents and condominium values.
