348 Van Brunt St 0.1 Acres of Commercial Land Offered at $2,916,795 CAD in Brooklyn, NY 11231

On December 5, 2024, New York City approved the City of Yes for Housing Opportunity zoning reform plan. One key --Town Center Rezoning -- aims to promote higher-density mixed-use development along key commercial corridors while maintaining neighborhood character. Under this rezoning framework, properties zoned R1- R5 with a commercial overlay on a main thoroughfare—defined as a wide street or a short block—are eligible for increased density. Specifically, the allowable Floor Area Ratio (FAR) increases from 1.50 as-of-right to 2.50 as-of-right, significantly enhancing the development potential of these sites. This zoning change effectively doubles the Buildable Square Footage (BSF) on eligible lots, encouraging the creation of more housing units and retail space in walkable, transit-accessible neighborhoods. For 348 Van Brunt Street, this zoning change presents a transformative opportunity to capitalize on increased development capacity in one of Brooklyn’s most dynamic waterfront districts. capitalize on the neighborhood’s continued growth.