GFI Realty Retained as Exclusive Sales Agent for Prime Flatbush Development Site May 23, 2017

CityBizList | May 23, 2017

GFI Realty Services, LLC today announced that it has been named the exclusive sales agent for 3116 Clarendon Road, a development site in prime Flatbush, Brooklyn. The site is zoned R6, with a maximum floor area ratio of 4.8, making it ideally suited for residential or mixed-use development. GFI Realty Associate Shawn Sadaghati will oversee the marketing of the site, with pricing targeted at $2.65 million.

The property is ideally situated on a tree-lined residential block among low-level buildings, detached Victorian houses and one- and two-family homes. The site boasts 50 feet of frontage on Clarendon Road, and zoning allows for the construction of 18,000 square feet of space. Approved plans call for the development of a 22-unit elevator building with a 3,000-square-foot community facility and an eight-car underground parking garage.

“The property’s location on a tree-line residential block makes it ideal for any residential or mixed-use development,” Sadaghati said. “Flatbush offers prospective residents an easy commute to Manhattan, picturesque blocks lined with Victorian homes and major commercial corridors filled with countless local and national retailers, so we expect to receive significant interest from investors.”

The property is located less than two blocks away from the major commercial corridor along Nostrand Avenue, which is also a major public transportation route. The area is serviced by the 2 and 5 subway lines as well as the B44 bus route. Nostrand Avenue is lined with a large variety of local businesses and several national retailers at the Nostrand and Flatbush Avenue junction, including Target, Home Goods, TD Bank and the Nike Factory Store. The property is also a short distance away from Brooklyn College.

About GFI Realty Services, LLC

GFI Realty Services, LLC imparts strategic and comprehensive solutions to maximize the value of real estate assets. Offering a wide array of brokerage services including investment sales, commercial real estate financing and retail leasing, GFI Realty Services, LLC utilizes its affiliate companies’ fully-integrated platform to provide owners, buyers, landlords and tenants nationwide with the market knowledge and due diligence required to consummate multifaceted transactions.

The company’s extensive knowledge of the commercial real estate industry, advanced analytical capabilities and incomparable client services position its executives as masters at executing off market and complex deals that require the most innovative solutions. For more information, visit GFIRealty.com.

 

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