Investment Overview

Marcus & Millichap is pleased to present the exclusive listing located at 347 Myrtle Avenue, in the Fort Greene section of Brooklyn, NY. The building offers a 3-story, 2 apartment and 1 store building that will be delivered vacant. The building offers 20 feet of frontage along Myrtle Avenue between Adelphi Street & Carlton Avenue. (Block: 02044; Lot: 0087). The buildings combined square footage is approximately 2,100 square feet and sits on a 1,886 square foot lot. 347 Myrtle Avenue is a 3-story, brick building offering a total of 2 apartments & 1 Store. Each unit offers 3 bedrooms & 1 Bathroom. The property has an R7A, C2-4 Zone, (FAR 3.45 or 4.6 w/ Inclusionary) which allows for approximately 6,506.7 gross buildable square feet (As-Of-Right). Or an additional 4,406 BSF to be added to the existing structure. The property falls with-in an inclusionary zone, which would allow a developer to take advantage of an increased zone (FAR – 4.6), which would allow 8,676 BSF with a percentage of units set aside for affordable housing. This is in addition to a number of other development incentives. Best to consult with your architect. The property is located within walking distance to over 10 different train lines, making it convenient get almost anywhere throughout NYC.