566 Grand Street is a vacant 1,875-square foot lot zoned R7A/C2-4. FAR: 3.45. Lot Size: 25'x75'.
Delivered with DOB approved architectural plans for 7,875 gross buildable square foot 6-story, 5-unit condominium development.
Over the last decade, East Williamsburg has undergone a transformation and is now positioned for even more growth. The neighborhood is teeming with new and planned residential developments, with projects surrounding the site in all directions, including multiple projects already underway and recently completed on the same block. The subject property is also located steps away from a planned 88-unit residential development featuring a Key Food supermarket at 575 Grand Street. Due to swelling population demands, over 7,000 residential units are in the development pipeline and, since the 2005 rezoning, over 10,000 luxury residential units have already been developed and occupied. New developments can expect to capitalize on the increasing residential rents, currently reaching over $60/sf and condominium sellout prices achieving over $1,300/sf.
