186 Remsen Street, Brooklyn, NY, 11201, US

186 Remsen Street

Descripción del activo

Jones Lang LaSalle (“JLL”) has been retained on an exclusive basis to arrange for the sale of 186 Remsen Street (the “Property” or “Site”), a premier development site located in Brooklyn Heights. The Site has a 5,000 SF footprint and the ability to build up to 60,000 ZFA through the City of Yes. With limited competition in the immediate vicinity, investors will benefit from an expedited timeline, as current ownership has completed a substantial amount of pre-development work. In 2019, the seller who owns one of the world’s most famous 3 Michelin starred restaurant and Inn, received landmarks approval to construct a 14 story, luxury hotel with fully approved plans by the DOB. The seller is willing to explore a JV relationship if the buyer is interested in pursuing a luxury development with a globally recognized hospitality operator.

Situated on the south side of Remsen Street between Clinton and Court Streets, the Site presents a promising opportunity for developers. The Site boasts great connectivity with Borough Hall station (2, 3), less than minute away, Court Street (R), and Jay Street-MetroTech (A, C, F) within a 3-minute walk, and additional Borough Hall entrances (4, 5) nearby. One stop away is the major hub of Atlantic Ave-Barclays Center, connecting to numerous lines. The Brooklyn Bridge is also easily accessible, offering a swift, under-10-minute route to Manhattan. Brooklyn Heights offers an abundance of dining and retail options. The excellent access to transportation, lively entertainment and dining options make Brooklyn Heights one of the most desirable submarkets in the borough.

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Atributos

Área de construcción bruta

2369 m²

Área de terreno bruta

465 m²

Zonificación

C5-2A / R10A

Medios

Aspectos destacados de la inversión

PREMIER DEVELOPMENT SITE IN BROOKLYN HEIGHTS

186 Remsen Street offers a 5,000 SF footprint with 60,000 ZFA potential through the City of Yes, situated in the heart of Brooklyn Heights. This prime location combines extensive development capacity with easy Manhattan access, top-tier amenities, and excellent schools, making it an unparalleled investment opportunity in one of New York's most coveted neighborhoods.

TOP TIER RESIDENTIAL MARKET

The Site is positioned to capitalize on Brooklyn Heights' thriving residential market, with new condominiums achieving sell-out prices of approximately $2,000 per square foot. Comparable rental properties command around $95 per square foot, presenting an exceptional opportunity for developers in this prestigious neighborhood.

THRIVING COMMERCIAL MARKET

186 Remsen Street benefits from its location in a vibrant commercial corridor, featuring popular retailers like Wegmans and Trader Joe's, and fitness centers such as Lifetime Fitness and Equinox. The area boasts an impressive array of dining options, including renowned spots like Daily Provisions and Cecconi's, as well as beloved local favorites such as Clover Hill and Ingas Bar.

UNPARALLELED CONNECTIVITY

The Site offers exceptional connectivity, with multiple subway lines within a 4-minute walk, including Borough Hall (2, 3, 4, 5), Court Street (R), and Jay Street-MetroTech (A, C, F). One stop away is Atlantic Ave-Barclays Center, connecting to the LIRR, while the nearby Brooklyn Bridge allows quick access to Manhattan, with most key locations reachable within 10-20 minutes by subway.