Massey Knakal Realty Services has been retained on an exclusive basis to sell a residential development site at 608 Ocean Avenue. The property is located between Church Avenue and Albermarle Road in Brooklyn’s Flatbush/Prospect Park South neighborhood. The asking price is $3,750,000.
The subject site has DOB approved plans for 31 residential units totaling approximately 25,000 gross square feet on a 37.5’ x 150’ lot. A 421-a tax abatement will be secured for the next 15 years, minimizing operating costs. The offering presents one of the only development sites on the corridor and is a rare opportunity to develop near Church Avenue, Flatbush’s prime retail corridor.
The site is in one of Brooklyn’s most rapidly maturing neighborhoods, just three blocks from Prospect Park. The Q and B subway lines are two blocks away at Church Avenue offering 20 minute access to Downtown Brooklyn and Manhattan.
“The site offers a substantial, turn-key development opportunity with a tax abatement, on one of Brooklyn’s more desirable avenues,” said Massey Knakal’s Michael Amirkhanian, who is exclusively marketing this property.
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Neighborhoods: Flatbush