Investment Highlights
Ariel Property Advisors has been retained to sell the vacant lot located at 89 Schenectady Avenue in the Crown Heights neighborhood of Brooklyn. The lot measures 21’ x 100’ and is zoned R6 with an FAR of 2.2 which permits 4,620 square feet of as-of-right residential development.
The property is well situated in between two community gardens which will remain undeveloped.
There are approved plans which call for a four story, 4,605 square foot apartment building with 7 residential units. The unit mix is as follows:
- First Floor- Oversized 1-bedroom apartment with one and a half bathrooms. The unit is duplexed into the basement where there is a separate room and half bathroom.
- Second Floor and Third Floor- Two 1-bedroom, 1-bathroom apartments on each floor with ample living and dining space.
- Fourth Floor- One 1-bedroom, 1-bathroom apartment and one duplex 1/2-bedroom apartment with 2 full bathrooms and a private terrace.
All units have balconies except for the first floor apartment and there is a common roof deck, common backyard, and laundry room in the basement.
