A while back (after NJ builder Kara Homes went bankrupt) I signed up to get auction information on (often distressed or foreclosed) properties. Just now I received information on this property, which will up for auction on Valentine's Day:
DEVELOPMENT OPPORTUNITY
DOWNTOWN BROOKLYN, NY - 27,000 SF SITE
- .61 Acres in 5 Contiguous Parcels Between Atlantic Ave. and Pacific St. and Boerum Pl. and Smith St.
- Frontage: 177’ on Atlantic Ave. & 150’ on Pacific St.
- F.A.R. 3.0 Plus Bonus Square Footage
- 80,000+ sf Buildable
- Zoned R6 & R6A with C2-4 Overlay
- Residential/Retail/Community, Medical Use/Extended Stay Hotel
Mother of God! Any guesses on what this will go for? I think the market is softening; this will provide a good measure on how that trend is progressing. Also of note, development of this site might obviate the need for the execrable floorplans of the Le Chien Merde, so there's that.
Sheldon Good & Company
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