149 Rockaway Ave, Brooklyn, NY for sale

Investment Overview

Asset CRG Advisors, LLC, has been exclusively retained to market 149 Rockaway Ave, a shovel-ready development opportunity in the Ocean Hill neighborhood of Brooklyn. The 1,950 SF lot features approved plans for a four-story + bulkhead mixed-use building totaling approximately 4,248 buildable SF, consisting of six residential apartments and one ground-floor commercial space. Zoned R6/C2-3, with a potential FAR increase up to 3.90 under UAP, requiring a 20-25% Permanent Affordable Housing Allocation & HPD Regulatory Agreement. Surveys and plans are available upon request. The property is also located within an Opportunity Zone, potentially providing tax benefits for qualifying investors.

Investment Highlights

• Shovel-ready development opportunity in the Ocean Hill neighborhood of Brooklyn.
• 1,950 SF lot with approved plans for a four-story + bulkhead mixed-use building totaling approximately 4,248 buildable SF, consisting of 6 residential apartments and 1 ground-floor commercial space.
• Zoned R6/C2-3, with a potential FAR increase up to 3.90 under UAP, requiring a 20-25% Permanent Affordable Housing Allocation & HPD Regulatory Agreement.
• Surveys and plans are available upon request.
• Located within an Opportunity Zone, offering potential tax benefits for qualifying investors.
• Exceptionally located near the Rockaway Avenue Station (A, C trains), less than 500 feet away, and Broadway Junction (A, C, J, L, Z trains), providing excellent access throughout Brooklyn and Manhattan.