10,400+ ZFA Development Site | Crown Heights 732 Prospect Pl 2,922 SF 100% Leased Flex Building Brooklyn, NY 11216 For Sale

TerraCRG has been exclusively retained to represent ownership in the sale of 732 Prospect Place, a prime residential development opportunity located in the heart of Crown Heights between Rogers Avenue and Nostrand Avenue. The property is currently improved with a three-story structure and presents a compelling opportunity for redevelopment in one of Brooklyn’s most active residential corridors.
The 2,683 SF lot (21 ft x 127.79 ft) is zoned R6A, allowing for 8,049 ZFA (3.0 FAR) as-of-right, with the ability to increase density to 10,464 ZFA (3.9 FAR) under the Universal Affordability Preference (UAP) program, subject to affordability requirements. This flexible zoning framework positions the site well for a boutique multifamily or mixed residential project.
The property benefits from exceptional transit access, with both the Franklin Avenue and Nostrand Avenue subway stations within close walking distance, providing service to the 2, 3, 4, 5, A, and C lines for seamless connectivity to Downtown Brooklyn and Manhattan. Multiple bus routes service the immediate area, while proximity to major thoroughfares such as Eastern Parkway and Atlantic Avenue ensures convenient access throughout Brooklyn and beyond.