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1029 - 1039 Atlantic Avenue 1029 Atlantic Ave 7,735 SF Retail Building Brooklyn, NY 11238 $32,000,000 ($4,137.04/SF)

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EXECUTIVE SUMMARY

JLL has been exclusively retained to arrange the sale of 1029 –1039 Atlantic Avenue, (the “Development”, “Property” or “Site”), located at the intersection of Clinton Hill, Bed Stuy & Prospect Heights in Brooklyn, New York. 1029 – 1039 Atlantic Avenue is a combined 15,704 SF lot featuring 130’ feet of frontage along Atlantic Avenue and 141,650 zoning square feet under the City of Yes / UAP programs. The two lots can be sold separately or as a package. The Site is in the newly rezoned Prospect Heights submarket of Brooklyn, offering residents a plethora of neighborhood amenities, immediate access to New York City’s major employment centers, and abuts some of Brooklyn’s’ most sought after neighborhoods. Residents of the Property will enjoy quick and direct access to the neighborhoods main retail and shopping corridors, in addition to having the benefit of being just a 5 - minute walk to the Franklin Avenue MTA C & S trains, offering immediate access to both Manhattan and Downtown Brooklyn in 20-minutes. The Property lies within the Atlantic Avenue Mixed-Use Plan (AAMUP), a community driven rezoning which seeks to transform the greater Atlantic Avenue corridor into a vibrant, mixed-use community that supports new housing and bolsters street safety and connectivity. AAMUP’s geography spans approximately thirteen blocks of Atlantic Avenue as well as blocks to the south along Pacific, Dean, and Bergen streets as they run between Grand Avenue and Franklin Avenue. The Site offers an opportunity to acquire and develop an upscale housing project in an established community that is in need of new development.

PROPERTY FACTS

Sale Type

Investment

Property Type

Retail

Property Subtype

Auto Repair

Building Size

7,735 SF

Building Class

Year Built

1950

Price

$32,000,000

Price Per SF

$4,137.04

Tenancy

Single

Building Height

1 Story

Building FAR

0.49

Lot Size

0.36 AC

Zoning

C6-3A - The Property consists of a 15,704 SF lot with 130’ of frontage along Atlantic Avenue. The Site allows for the development of 141,650 ZFA.

Frontage

65’ on Atlantic Ave

Services
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