Assignments

Boerum Hill Development Site with Approved Plans

46 Third Avenue, Brooklyn, NY 11217

46 Third Avenue, Brooklyn, NY 11217

under contract

Asking
Sale Price
$
4700000

Property Details

Status
For Sale
Property Type
Residential Development Site
Price Summary
$
4700000
Sale Price
$
Buildable SF
10200
Building SF
10200
LOT SF
10200
Cap RATE
%
Zoning
R6A, C2-4

Highlights

  • Prime Boerum Hill Location
  • Shovel-Ready Site with approved plans
  • Located less than 2 blocks from Atlantic Terminal and the Barclays Center
  • ICAP on Retail already in process
  • Surrounded by several subway lines

Property DEscription

Premier Development Opportunity situated at the pivotal intersection of Atlantic and 3rd Avenue, 46 3rd Avenue represents a flagship development opportunity within one of Brooklyn’s most resilient and high-growth corridors. Comprising a total lot area of 3,400 SF, this site offers a versatile canvas for residential, mixed-use, or flagship retail programming. Beyond standard development, the offering provides a unique bifurcated asset strategy:

The Townhouse Conversion: An existing structure on the primary lot allows for a high-end rehabilitation into a 2,280 SF luxury single-family residence.

The Ground-Up Component: The two contiguous lots offer a combined7,920 SF of buildable area, ideal for a boutique condominium project. This multi-pronged approach allows for diversified exit strategies and maximum yield optimization in a prime Brooklyn submarket.

Map

Anand Melwani
Partner
(646) 559-4700
AM@landairnyc.com
Michael Lam
Associate
(917) 536-3676
mlam@landairnyc.com

Documents

Offering Memorandum
Data Room

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