1205 Flatbush Ave

Ariel Property Advisors presents 1205-1209 Flatbush Avenue, a prime 55’ x 133’ block-through, mixed use development site located in the heart of the Flatbush neighborhood. This site rests in an inclusionary R7-A/C2-4 Zoning district, giving the purchaser a myriad of avenues to add value in the forms of a commercial and residential development. The subject property boasts 21,590 BSF as-of-right and 28,787 BSF with the inclusionary housing bonus. The recent passage of Affordable New York, the replacement for the former 421-A tax abatement program, is driving much development in the immediate area due to the newly established Area Median Income requirements put forth by the legislation. 1205-1209 Flatbush Avenue is currently operating as a laundromat and can be delivered vacant. The existing 4,735 SF commercial building is centrally located on Flatbush Avenue, one of Brooklyn’s major commercial thoroughfares, and has on-site parking at the rear of the property, making it a very attractive opportunity for an owner-user. The property is also near transportation hubs, with the 2,5, and Q subway lines all located within walking distance. 1205-1209 Flatbush Avenue stands out as a superior investment opportunity for a developer or owner-user because of its strong location, dual frontage on Flatbush Avenue and East 23rd Street, and large footprint in one of Brooklyn’s rapidly emerging submarkets.