Street (Block: 00420, Lot: 0023), located between 3rd and 4th Avenue,
in the Gowanus section of Brooklyn, NY. (Subject to DOB final
approval). 83.5ft x 100 ft lot. According to Gowanus rezoning plan, the
property will be zoned for M1-4 which allows for opportunities such as
Commercial condos, Art Galleries, Restaurants, Spa, Shopping Center,
etc. This property is perfectly situated in the middle of several of the
most desirable neighborhoods in Brooklyn.
Property Description:
This property is in the epicenter of dining, nightlife and retail amenities of
the proposed Gowanus redevelopment. Located in close proximity to all the subway lines
at Barclays Center/Atlantic Terminal (2/3/4/5/D/N/R/B/Q) at the central
transportation hub of Brooklyn.
Financial Overview
Location: 316 Douglass St Brooklyn, NY 11217
Price: $10,500,000
Number of Units: 1 Unit (Can be built upon)
Total Gross Square Feet: 8,280
Lot Size: 83.5 x100
Year Built: 1931
Type of Ownership: Fee Simple
GRM ? Pro Forma: 24
Cap Rate ? Pro Forma: 4%
Quick Profile
Boasting beautiful tree-lined streets, brownstones and a range of activities for all age groups, Park Slope is consistently ranked as one of New York’s most desirable neighborhoods. Filled with lush parks and greenery, the neighborhood is also known for its rare combination of excellent public schools, award-winning restaurants, nightlife, small independently owned businesses and community gardens.
Situated at the western slope of Prospect Park, the neighborhood is divided into different sections: North Slope, Center Slope and South Slope. Depending on who you ask, of course, the definitions of where these borders end and begin may vary (is the divide between North and Center deemed Union Street, Garfield Place, 1st Street or 3rd Street? The one between Center and South 6th Street, 9th Street, 11th Street or 15th Street?).
Regardless of what part of the Slope you find yourself on, there’s no shortage of architectural beauty. From row houses to brownstones to mansions, the idyllic setting of the neighborhood is further enhanced by its Romanesque and Renaissance Revival styles. Case in point of this is also two of the area’s most well-known churches, Park Slope United Methodist Church and Saint Augustine Roman Catholic Church.
Revered for its family-friendly appeal, Park Slope is often regarded as one of the best places to raise a family in New York City. That said, it doesn’t mean that parents don’t know how to have a good time... a slew of bars constantly opening in the neighborhood ranging from the high-end cocktail saloon to the dive (well, by Park Slope standards, anyway).