459 Smith Street — Sale in Brooklyn, NY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: Brooklyn, NY 11231
  • Size: 32,632 SF

Description

Jones Lang LaSalle ("JLL") has been exclusively retained to represent 459 Smith Street (the "Site", "Asset" or "Property"), a 147,513 square foot development site with 775,472 zoning floor area (ZFA). The project, vested under the lapsed 421a program (Option A), providing significant tax advantages compared to the current 485x program, encompasses two mixed-use developments that total 1,030 units and 32,632 SF of commercial/GMU space. Poised to add to the thriving Carroll Gardens neighborhood, the Site is subject to Mandatory Inclusionary Housing (MIH) requirements (Option 1) and will also be eligible for Brownfield Tax Credits. Current ownership has made significant progress through completing a 100% DD set, securing MTA approvals, obtaining waterfront access plans (signed by the city) and installing a bulkhead less than 3 years ago.

Market Context

This commercial property in Brooklyn, NY is listed for sale across 32,632 SF. It has been on the market for 82 days. Compare it against other commercial property listings for sale in Brooklyn, NY — view the full market.

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