Two area properties are on the market, and could fetch millions in southern Brooklyns still-bullish market. The first site, located at 1725-43 Stillwell Avenue, is a 16,000-square-foot property located between Quentin Road and Highlawn Avenue in Bensonhurst. The property, whose asking price is $4 million, is located near several schools, a perfect opportunity for residential development, according to Jeffrey Shalom, a broker with Massey Knakal Realty Services. Its really a site for a residential developer to build homes suitable for families, Shalom said. There are a lot of children in the neighborhood already, and more are expected, he noted. The site, on which now stands a boarded-up gas station, is located within blocks of Seth Low Junior High School, Seth Low Park, Jewish Community House of Bensonhurst, as well as the Kings Highway and 86th Street shopping districts. It also stands near a elementary/intermediate school planned for construction at the site of Magen David Yeshiva, located on Stillwell and Avenue P. Plans for the school are on hold as the state has not released funds that will enable construction. The property has been on the market for just a few weeks, and has already generated much interest, Shalom said. It sits in an area that was rezoned last summer for residential use. The property must undergo an environmental clean-up, Shalom said, and will be delivered clean to the buyer. New homes here have front yard requirements, parking space requirements, and may not stand over 33 feet tall, Shalom said. New construction will be consistent with the rest of the block, he added. High-rise buildings are not allowed here under the new zoning. In Sheepshead Bay, a development site located at 325 Avenue Y is also for sale. Tentative plans at this site call for the construction of 21 large condominiums in a 58,386 square foot, four-story building. The asking price, according to Massey Knakal, the propertys exclusive seller, is $6.3 million. The plans, according to the citys Department Buildings, were disapproved in July. The site sits in an area zoned for manufacturing use, and therefore requires public approval for a use other than the current zoning allows. For the project to proceed, the developer must also receive approval from the citys Board of Standards and Appeals, which has official say over such matters.
©2006 Community News Group
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