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348 Van Brunt St
Brooklyn, NY 11231
Land For Sale
·
0.10 AC
Investment Highlights
- Prime development site in Red Hook’s main retail corridor.
- Located in a federally designated Opportunity Zone.
- Excellent transit access via South Brooklyn Ferry and bus routes.
- Zoned for mixed-use with FAR up to 2.50 under new reform.
- Steps from Brooklyn Marine Terminal redevelopment zone.
- Surrounded by strong rental growth and boutique condo projects.
Executive Summary
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.
Property Facts
| Sale Type | Investment or Owner User | Property Subtype | Commercial |
| No. Lots | 1 | Total Lot Size | 0.10 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Zoning | R5 / C1-3 - R5 Zoning is considered “low density” residential zoning. | ||
| Sale Type | Investment or Owner User |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Total Lot Size | 0.10 AC |
| Opportunity Zone |
Yes |
| Zoning | R5 / C1-3 - R5 Zoning is considered “low density” residential zoning. |
1 Lot Available
Lot
| Price | $2,870,805 CAD | Lot Size | 0.10 AC |
| Price Per AC | $29,423,935.43 CAD |
| Price | $2,870,805 CAD |
| Price Per AC | $29,423,935.43 CAD |
| Lot Size | 0.10 AC |
348 Van Brunt Street offers a rare development opportunity in the heart of Red Hook, one of Brooklyn’s most dynamic waterfront neighborhoods. Positioned along a thriving commercial corridor.
Property Taxes
| Parcel Number | 00555-0023 | Improvements Assessment | $180,205 CAD |
| Land Assessment | $53,315 CAD | Total Assessment | $233,519 CAD |
Property Taxes
Parcel Number
00555-0023
Land Assessment
$53,315 CAD
Improvements Assessment
$180,205 CAD
Total Assessment
$233,519 CAD
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