149 Rockaway ave - 149 Rockaway Ave - Development Site 0.04 Acres of Residential Land Offered at $1,130,665 CAD in Brooklyn, NY 11233

149 Rockaway Avenue | Shovel-Ready Opportunity Zone Development Site with Approved Plans for 6 Apartments & Retail
149 Rockaway Avenue presents a rare opportunity to acquire a shovel-ready mixed-use development site in the heart of Central Brooklyn. Situated on a 1,950-square-foot lot (19.5' × 100'), the property is zoned R6/C2-3 and is being delivered 100% vacant with approved plans for a four-story mixed-use building totaling 4,125 buildable square feet, consisting of 6 residential apartments and 1 ground-floor retail space.
With no existing structures to demolish, developers can begin construction immediately, significantly reducing both time and development costs. The site's efficient dimensions and flexible mixed-use zoning make it well suited for rental housing, condominium development, workforce housing, or a mixed-use project with neighborhood-serving retail.
The property also offers meaningful future upside. Under the proposed City of Yes zoning reforms, the allowable Floor Area Ratio (FAR) may increase from 2.20 to 3.90, creating the potential for substantially greater residential density and long-term value.
Prime Brooklyn Location
Ideally positioned just half a block from the C subway line and only four blocks from Broadway Junction—Brooklyn's premier transportation hub—the property offers convenient access to Downtown Brooklyn, Williamsburg, Lower Manhattan, JFK Airport, and the greater New York City metropolitan area. Commute times of approximately 20–30 minutes make the location highly desirable for both residents and commercial tenants.
Further enhancing the investment profile, the property is located within a federally designated Opportunity Zone, providing qualified investors with the potential to realize significant federal tax benefits through eligible Opportunity Zone investments.
Development Highlights
Approved plans for a 4-story mixed-use building
4,125 buildable square feet
6 residential apartments and 1 ground-floor retail space
R6/C2-3 mixed-use zoning
1,950 SF lot (19.5' × 100')
Delivered 100% vacant at closing
No demolition or existing improvements
Potential FAR increase from 2.20 to 3.90 under the proposed City of Yes initiative
Federally designated Opportunity Zone
Suitable for rental, condominium, mixed-use, or community facility development
Half a block from the C train
Four blocks from Broadway Junction
Approximately 20–30 minutes to Downtown Brooklyn, Williamsburg, and Lower Manhattan
Investment Opportunity
Development-ready sites with approved plans, Opportunity Zone benefits, and future density upside are increasingly difficult to find in Brooklyn. The combination of immediate construction readiness, flexible mixed-use zoning, exceptional transit access, and potential City of Yes development incentives positions 149 Rockaway Avenue as an outstanding acquisition for developers, builders, and long-term investors.
Whether developed as a boutique multifamily rental building, a condominium project, or a mixed-use asset with neighborhood retail, 149 Rockaway Avenue offers the location, approvals, and long-term appreciation potential to capitalize on one of Brooklyn's strongest emerging residential corridors.