BKREA & Revived Commercial have been retained exclusively to arrange for the sale of 521-547 Empire Boulevard ("The Site"), an exceptional development opportunity in the heart of Crown Heights, Brooklyn. The site is located on Empire Blvd, between Brooklyn Avenue and Kingston Avenue; 5 blocks east of Prospect Park. The development
features four tax lots totaling 240' of frontage along Empire Blvd which is zoned R7A/C2-4. This zoning and prime location present developers with an opportunity to capitalize on the strong demand for residential/mixed-use developments driven by the proximity to Prospect Park, the 2/5 Subway stations, and top tourist attractions such as
the Barclay’s Center, the Brooklyn Museum and the Brooklyn Botanic Gardens.
The site consists of four tax lots, 66,74,75 & 78 located on block 1311. The site allows for approximately 164,211 buildable square feet (BSF), consisting of 144,211 BSF of residential space, with the opportunity to gain an additional 20,000 BSF using the Fresh Food Store bonus. Incorporating a Fresh Food Store on the site qualifies the project for this incentive, increasing residential floor area while also improving community access to healthy food options.
The site is located outside “Zone A” and “Zone B,” and qualifies for the 485X tax abatement and is exempt from restrictive Construction Wage Requirements, with full exemption for projects under 100 rental units
