503-527 Smith Street
503-527 Smith Street, Brooklyn, NY, 11231, US
11 045 mètres carrés
Descriptif
Jones Lang LaSalle (“JLL”) has been exclusively retained to represent 2131 Tilden Avenue (the “Site,” “Asset,” or “Property”), a 75,210 square-foot development site in the heart of Flatbush, Brooklyn. The Property offers a total of 417,522 ZFA, bolstered by 124,203 ZFA which will be pulled from the neighboring lot (to be subdivided upon sale). This scale unlocks exceptional flexibility across multiple executable development pathways — sub-99 unit buildings, two sub-150 unit buildings, or a single 150+ unit residential tower designed to maximize scale and efficiency. The Site is anchored by Food Bazaar, a dominant neighborhood grocer and daily traffic driver operating under a 25-year lease commitment. The lease includes redevelopment provisions that allow for residential construction above the existing footprint, with plans to deliver a newly built, purpose-designed Food Bazaar space within the project — ensuring uninterrupted tenancy and stable, long-term cash flow throughout the development process.
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Attributs
Total Available Resi. UAP ZFA
417,522 ZFA
Lot Size
75,210 SF
Food Bazaar Build-Back (Signed Lease)
61,000 SF
Zoning
C4-2 (R6)
Média
Points forts de l'investissement
Grocery-Anchored Development Site
2131 Tilden Avenue presents a rare grocery-anchored development opportunity in a high-growth Brooklyn neighborhood. The approximately 61,000 SF Food Bazaar will serve as a critical neighborhood amenity and traffic driver, providing essential goods and services that enhance the Property’s development potential. With a 25-year lease term plus renewal options and approximately 10% rent escalations every five years, Food Bazaar delivers stable, long-term cash flow that significantly de-risks any future development plans.
A Neighborhood in Demand
With 82% of households renting and a 96.7% employment rate, Flatbush represents a deeply rooted, working community with consistent and reliable housing demand. The area’s workforce is skilled and steadily employed, with incomes projected to grow 11.5% by 2030. Major institutional anchors within 1.25 miles — including NYC Health + Hospitals/Kings County, SUNY Downstate, and Brooklyn College — collectively employ and enroll tens of thousands of workers and students in need of quality housing. That demand is already being recognized by the market, with over 600 new residential units currently permitted or under construction within 1.25 miles of the Site.
Development Optionality
2131 Tilden Avenue presents exceptional residential development potential with a vast 75,210 SF footprint offering multiple strategic pathways to maximize value. The Site can accommodate up to 417,522 square feet of UAP ZFA, 294,406 square feet of Strategic UAP ZFA, or 235,525 square feet of Standard ZFA. Developers can pursue various configurations including multiple sub-99 unit buildings, two sub-150 unit buildings, or a single 150+ unit building.
Expansive Scale
Supported by a total UAP Residential ZFA of 417,522, the development will deliver a premier mixed-use building across the Site’s substantial buildable envelope. Located within a Brooklyn neighborhood of more than 150,000 residents and sustained housing demand, the project will introduce meaningful new supply to a market that continues to grow.
Superior Connectivity
2131 Tilden Avenue benefits from immediate access to the B and Q trains at the Church Avenue station (located at Church Avenue & East 18th Street) and the 2 and 5 trains at the Church Avenue station (located at Nostrand Avenue & Church Avenue), delivering exceptional connectivity throughout Brooklyn and Manhattan.
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2131 Tilden Avenue (0 Propriétés)
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Dernière mise à jour
11 mars 2026
