The Nowak Group of Marcus & Millichap has been exclusively retained by ownership to arrange the sale of 2932 Atlantic Avenue and 218 Ashfor Street, a development site located on the southwestern corner of Atlantic Avenue and Ashford Street in the East New York Section of Brooklyn. The assemblage is comprised of two abutting lots: 2932 Atlantic Avenue (1,670 square foot 19.33 X 88) and 218 Ashford Street (1,460 square feet 20 X 58), totaling 3,130 square feet of development land.
East New York was approved for a 200 block rezoning in April of 2016. 2932 Atlantic Avenue is located within the boundaries of the new zoning, which is a Mandatory
Inclusionary Housing (MIH) zone. The zoning for the subject property is now R8A/ C2-4 (2,546 square feet within the R8A section, with 584 square feet of 218 Ashford Street lying beyond the 100-foot mark in the R6B section), which allows a developer to build an approximately 19,500 square foot residential development.
2932 Atlantic Avenue and 218 Ashford Street are well-located near public transportation: three blocks from the Cleveland Street ‘J’ subway station and seven blocks from the Shepherd Avenue ‘A’ ‘C’ station. Additionally, the subject property’s corner location one block from a 100-unit residential development at 315 Linwood Street ensures heavy foot
traffic at this location, making it ideal for a mixed-use residential development.
