86th Street Development Site_Property for Sale

423-474 86th Street, Brooklyn, NY, 11209, US

86th Street Development Site

Asset description

Jones Lang LaSalle Americas, Inc. (“JLL”) has been retained to arrange the sale of the 86th Street Development Site (Aka, 448, 454-460, 464, 468, 472-474 86th Street & 423, 427, 433, 441, 449 87th Street Brooklyn, NY 11209), a multi-phased development project totaling 193,404-buildable square-feet (251,425 City of Yes BSF) on a 64,468-square-foot footprint in the heart of Bay Ridge with 200’ feet of prime commercial frontage.

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Attributes

Land area gross

64,468 sf

Media

Investment highlights

FLAGSHIP BAY RIDGE DEVELOPMENT SITE

The 86th Street Development Site is positioned to capitalize on the lack of Class-A multi-family inventory in the Bay Ridge submarket due to its large footprint and premier visibility. Its prime location on 86th Street enhances the value proposition, particularly for ground floor retail, making it an attractive investment prospect.

THRIVING RETAIL MARKET

The Site offers the potential to add a ground floor big box retail tenant to further add value and anchor the residential component. As one of New York City’s busiest and most sought-after retail strips, 86th Street attracts both national chains and local businesses.

485-X / CITY OF YES

The Site will be benefit from both the 485-X Tax Abatement and City of Yes (pending approval) programs which will decrease development costs, and improve the overall efficiency of new developments.

SUPERIOR LOCATION

The 86th Street Development Site boasts exceptional transit access. It's steps away the 86th Street subway, connecting directly to downtown Brooklyn and Manhattan. The nearby Atlantic Avenue-Barclays Center hub links to multiple subway lines serving three boroughs. Within a mile, major highways and the Verrazano Bridge enable easy travel to Staten Island and beyond.

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