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306 Water St 5,000 SF Industrial Building Brooklyn, NY 11201 For Sale
Investment Highlights
- Boutique Development Opportunuty
- Exceptional Transit Connectivity
- Premier Waterfront Location
- Optimal Scale and Efficient Footprint
- 485-X Tax Abatement Eligibility
- Inner Transit Zone Designation
Executive Summary
Jones Lang LaSalle (“JLL”) has been exclusively retained to arrange the sale of 306 Water Street (the “Property” or “Site”), a prime boutique residential development site in the highly desirable DUMBO / Vinegar Hill neighborhood of Brooklyn. This strategically positioned site features a 50’ x 100’ lot (5,000 SF) with an existing 5,000 SF single-story building positioned for redevelopment.
306 Water Street offers flexibility as either a rental development, benefiting from 485-X tax abatement incentives, or as a condominium project driven by strong fundamentals and deep market demand in this coveted waterfront neighborhood. Zoned R6B, the Site offers 10,000 ZFA (Standard) or 12,000 ZFA (UAP) for development, providing an excellent opportunity for a boutique residential project. The site also offers the opportunity to build two 25’ townhouses which remain one of the most sought after developments.
306 Water Street offers flexibility as either a rental development, benefiting from 485-X tax abatement incentives, or as a condominium project driven by strong fundamentals and deep market demand in this coveted waterfront neighborhood. Zoned R6B, the Site offers 10,000 ZFA (Standard) or 12,000 ZFA (UAP) for development, providing an excellent opportunity for a boutique residential project. The site also offers the opportunity to build two 25’ townhouses which remain one of the most sought after developments.
Property Facts
| Sale Type | Investment | No. Stories | 1 |
| Property Type | Industrial | Year Built | 1985 |
| Property Subtype | Warehouse | Tenancy | Single |
| Building Class | C | No. Dock-High Doors/Loading | 1 |
| Lot Size | 0.11 AC | No. Drive In / Grade-Level Doors | 1 |
| Rentable Building Area | 5,000 SF | ||
| Zoning | R6B | ||
| Sale Type | Investment |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 0.11 AC |
| Rentable Building Area | 5,000 SF |
| No. Stories | 1 |
| Year Built | 1985 |
| Tenancy | Single |
| No. Dock-High Doors/Loading | 1 |
| No. Drive In / Grade-Level Doors | 1 |
| Zoning | R6B |
Amenities
- 24 Hour Access
- Floor Drains
- Metro/Subway
- Signage
Utilities
- Gas - Natural
- Water - City
- Sewer - City
- Heating - Gas
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Exceptionally walkable
100/100
Moderately drivable
60/100
Exceptional public transit
100/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 00043-0021 | Improvements Assessment | $356,850 |
| Land Assessment | $68,850 | Total Assessment | $425,700 |
Property Taxes
Parcel Number
00043-0021
Land Assessment
$68,850
Improvements Assessment
$356,850
Total Assessment
$425,700
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306 Water St
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