Seven-Story, Mixed-Use Residential Building May Go Up On Sunset Park-Borough Park Border

A tire shop and garage on the border of Sunset Park and Borough Park is on the market as a “vacant development site with coveted 421-A tax benefits,” announced real estate company Cushman & Wakefield, which is the agent overseeing the sale, which asks $12.75 million for the rights to development on the 15,293 square foot triangular lot.

Located in an R6/C2-3 zoning district, the site actually comes with existing building plans filed with the Department of Buildings (DOB) and approved by the Metropolitan Transportation Authority (MTA), which has input because it’s located along the subway line near the D line’s stop at 9th Avenue.

“With the suspension of the 421-A tax abatement in January, [this site] is an incredibly unique development site because it not only has DOB approved plans, MTA approval and the ICAP tax abatement, but it also has the benefits in place for the 421- A,” said Cushman & Wakefield’s Jeffrey A. Shalom. “The owners completed all requisite steps and received approval before the expiration deadline.”

So what will any building on the site eventually look like?

Plans say a “seven-story, mixed-use building featuring ground floor retail and community facility with parking and 59 residential units above,” with allowed layouts of six studio, 38 one-bedroom and 15 two-bedroom apartments.” It would have 80,085 square feet of space.