284 4th Avenue, Brooklyn, NY 11215

Opportunity Zone Development Site included in Proposed Gowanus Rezoning

284 4th Avenue, Brooklyn, NY 11215
Asking Price $5,000,000
Type Development Site
Neighborhood Gowanus
Properties 2
Lot Size 40 ft. x 97.83 ft
Zoning Code Request OM for more details
Size 5,880 SF
Stories 2
Units Request OM for more details
Air Rights 1,946
284 4th Avenue OM DRAFT[8178]

Investment Highlights:

Meridian Investment Sales is pleased to present the Exclusive Offering for 284 4th Avenue in the Gowanus neighborhood of Brooklyn. 284 4th Avenue is a development site on 4th Avenue between Carroll Street & 1st Street on the border of Park Slope and Gowanus. The site is included in the proposed Gownus Rezoning and is also in a designated Opportunity Zone. The proposed Gowanus Rezoning allows for a total FAR of 8.5, for a buildable of approximately 33,000sf. The Opportunity Zone designation allows owners to minimize capital gains taxes based on a 5, 7 or 10 year hold period.

The Opportunity Zone designation will allow investors with capital gains to defer the gains until 2026, have a partial basis step-up, and permanently exclude from federal income tax any additional capital gains arising from the investment if the investment is held for 10 years.

The Asking price of $5M represents acquisition cost of $150/per buildable square foot based on Gowanus rezoning proposal.

Location:

Prime Location on the border of Park Slope and Gowanus Neighborhoods, one block away from the D, N, R and W trains at the Union Street Subway station.

Property Listing Contact:

Adam Hess // Senior Managing Director // One Battery Park Plaza, New York, NY 10004 // 718.534.9201 // ahess@meridiancapital.com

Eddie Setton // Vice President // One Battery Park Plaza, New York, NY 10004 // 718.534.9202 // esetton@meridiancapital.com

Aaron Birns // Associate // One Battery Park Plaza, New York, NY 10004 // 718.534.9203 // abirns@meridiancapital.com