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- LoopNet Team
3107 Farragut Rd
Brooklyn, NY 11210
100x100,R6 Pot'l Dormitory near Bklyn College · Land For Sale
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0.23 AC
INVESTMENT HIGHLIGHTS
- Close to #2 & 5 Trains at Brooklyn College/Midwood High School Station.
- The three Existing 2 Family Houses in this parcel are to be delivered vacant. They can however be Rented Out on Short Term Basis for Apx $165k/yr
- Great East Flatbush/Midwood Residential R6 Locations-2 Blocks to Busy Flatbush Avenue Retail Corridor
PROPERTY FACTS
DESCRIPTION
3 Building and Residential Lot Assemblage near Brooklyn College in one of the only R6 Zones in East Flatbush Brooklyn, 11210 Notably, these properties fall within one of the only R6 zones in Central Brooklyn with R6 Zoning, allowing for building up and the potential to construct either a 4-story residential building with a 2.2 Residential FAR or a 6 story building with a 4.4 Facility FAR. * * In both Residential and Facility FAR Construction, the developers are allow to build approx 40-50% of the basement footprint as potential Office, Retail or Lower Duplex Living Space (assuming here that it is at least 50% above grade) for additional Operating Income. With its prime location and air rights, this 100'x 100 square foot assemblage holds enormous potential for various uses. Whether you’re seeking a live/work investment, future development into apartments or a condo building, or even a medical office or non-profit space, this property offers great possibilities. Floor Area Ratio: Residential FAR 2.20 Facility FAR 4.4 FAR as built 0.85 for both 3107 & 3111 Farragut Rd. & 0.00% now vacant lot at 3115 Farragut Rd. Allowed usable floor area-- 21,290sf as residential FAR or 42,000*sf as Facility FAR These properties will be delivered vacant at closing. Residents on Farragut Rd enjoy the convenience of a tree-lined street, proximity to parking garages, public transportation, and a vibrant neighborhood filled with cafes, restaurants, and an array of shops. Property Expenses provided upon request. Notably, this property falls within one of the only R6 zones in Central Brooklyn with R6 Zoning, allowing for building up. You have the potential to construct either a 4-story residential building with a 2.2 Residential FAR or a 4+ story building with a 4.4 Facility FAR. *There is also a possibility of adding a 4th contigous property that could provide an additional 30'X100' lot which would result in a 130'x 100' footprint and a total facility of a 4-6 story building with approx.57,200 sf & a 13,000sf basement for additional Living area, Office space and a small parking lot.
