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274 E 32Nd St Brooklyn, NY 11232

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For Sale
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Residential development opportunity in Flatbush with approved DOB plans.

Lot size:
0.09 Acres

Property Features for 274 E 32Nd St

General Information

Lot size
0.09 Acres
Source: Moodyscre

Listing Agent: Andrew Manasia

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Flatbush Residential Development Opportunity

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.
Location Intelligence

Current Use by Public Records

Residential land & home ...

Suggested Use

Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Brooklyn
County
Kings
State
New York
Longitude
-73.94721
Latitude
40.643955

FAQs

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.
More about this property
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