54 11th St Brooklyn, NY 11249-1912

This exceptional Williamsburg, Brooklyn property presents a unique opportunity for significant development. Located at 54 N 11th St, the site encompasses a substantial 25,000 square foot lot, featuring a main parcel measuring 225 feet by 100 feet on N 11th Street, and an additional 25 feet by 100 feet one-story building on N 10th Street. The property offers a substantial buildable area, with as-of-right development potential of 50,000 square feet, and the possibility of reaching up to 120,000 square feet with applicable bonuses. An existing 26,109 square foot structure is currently on the site. This prime location is ideally suited for a variety of commercial or hospitality uses, given its proximity to popular hotels such as the Arlo Williamsburg, The Hoxton, William Vale, and Wythe Hotel. The area boasts high foot traffic and is conveniently located near Bushwick Inlet Park and McCarren Park. Excellent public transportation access is provided by the Bedford Avenue L train, just a 5-minute walk away. The surrounding neighborhood is experiencing a thriving retail, tourism, and entertainment sector, with average rental rates ranging from $70 to $80 per square foot. This presents an unparalleled investment opportunity in a highly desirable and rapidly developing area of Brooklyn. The asking price for this remarkable property is $27,000,000.