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21 East 29th St & 1580 Nostrand Ave 2 Properties in Brooklyn, NY
Investment Highlights
- 94-unit, nearly vacant, elevator building
- 421-a Option C (30% at 130% of AMI)
- Zoning and air-rights flexibility
- Immediate lease-up opportunity
- Shovel-ready, vacant site vested under 421-a Option B
- City of Yes improved density
Executive Summary
Avison Young is pleased to present a two-asset offering in Flatbush, Brooklyn distinguished by vested 421-a Affordable New York benefits on both components of the transaction—a condition that is increasingly scarce and no longer replicable under current regulatory frameworks. The offering combines a newly constructed, fully vacant multifamily elevator building with an adjacent, shovel-ready development site, providing both immediate income generation and a defined path to future development within a single capital structure.
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Property Facts
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Active | Total Building Size | 86,099 SF |
| Number of Properties | 2 | Total Land Area | 1.24 AC |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 86,099 SF |
| Total Land Area | 1.24 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 1580 Nostrand Ave, Brooklyn, NY 11226 | Land | 0.62 AC | - | - |
| 21 E 29th St, Brooklyn, NY 11226 | Multifamily | 86,099 SF | 2021 | - |
Contacts
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Erik Edeen -
James Nelson -
Brandon Polakoff -
Fritz Richter -
Patrick Madigan -
Joseph Moran -
Miles Davis-Bosch -
Avison Young
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21 East 29th St & 1580 Nostrand Ave
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