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Cushman & Wakefield has been retained on an exclusive basis to sell a residential development site at 88 Schermerhorn Street, located between Court Street and Boerum Place in Brooklyn Heights.

Currently, the site holds a four-story building with approximately 10,570 square feet. The property will be delivered vacant and is positioned as a turnkey development, as current ownership has already acquired over 6,620 square feet of IAR, filed development plans, and secured demolition approval. Per the filed plans, the C5-4 zoned site is permitted to mass a 26-story tower totaling approximately 45,218 square feet and 23 residential units. The unit mix consists of 22 floor-through units and one duplex penthouse. Luxurious residences, tree-lined streets, and a rich history characterize this coveted residential enclave.

“With significant due diligence already performed and demo approvals secured, this offering is truly a turnkey opportunity for a developer to construct luxury product in a marketplace that is experiencing rapid absorption of new-construction residences,” said Cushman & Wakefield’s Stephen P. Palmese, who is exclusively marketing this property.

Click here for listing details

Rendering Credit: SDS-HEIGHTS

Neighborhoods: Brooklyn Heights/ Agents: Stephen Palmese