804 - 806 St. Johns for sale (btwn Rogers and Nostrand)

whynot_31 · September 2013

Loopnet

It sounds as if the long, single story building on the right of the photo will be torn down, as will the higher building to the left. In turn, we will get a pretty big residential building on the site.

http://www.terracrg.com/setups/804-806_St_Johns_Place.pdf

Streetview shows it is a lovely block....

https://maps.google.com/maps?q=806+st+johns+brooklyn&hl=en&ll=40.671704,-73.95155&spn=0.000033,0.024719&hnear=806+St+Johns+Pl,+Brooklyn,+New+York+11216&t=m&z=16&layer=c&cbll=40.67171,-73.951663&panoid=qFr47Wx6ESLkZF9gxvj1xw&cbp=12,168.93,,0,-12.77

pragmaticguy · September 2013

I know the owner of 810 and that building is under contract as well. Wonder if it will become part of the new residential building you're writing about.

whynot_31 · September 2013

We'd have to know whether 808 is on board.

Bundling a bunch of properties together is often a good way to increase profitability/value.

But I've gotta think that the folks at terracrg explored whether they could create such a bundle before they listed just 804 - 806.

To my knowledge, this area isn't landmarked....

pragmaticguy · September 2013

I insure a few buildings on that block and none of them are landmarked,

tateinbk · September 2013

804's roof has been caving in for years. The L shape in the back is pretty weird to build on as the lot will be sandwiched between the backyards of other buildings and right up next to the backside of the bigger Lincoln pl. building and completely block all light to the apartments there. Any windows will be almost within reaching distance of each other if the back lot is fully built up.

whynot_31 · September 2013

tate-

They would not have to build the building in the L shape, behind the other buildings, and zoning might not allow it even if they wanted to.

If they forego building behind the other buildings, they could use air rights (earned by keeping that space vacant) to create a high building in line with the other buildings.

The terracrg flyer might explain it better than I.

tateinbk · September 2013

Ah. The majority of the building around it are only 4 stories with the exception of the 6 story Lincoln pl. building. I guess it would be built up to that? It doesn't seem like that much of an air-right advantage to only get to build up that high?

whynot_31 · September 2013

11,000 buildable sq ft is pretty many.

...some of the tall, new in-fill buildings you see in Prospect Heights are of similar size and in an R6 zone; look for the ones with lots of glass...

I'm no expert, but one can get pretty creative and tall in an R6 zone.

...for example, from 11,750 buildable sq ft, a builder could create a building with ten, nice sized two bedroom, 1000 sq ft apartments....

804 - 806 St. Johns for sale (btwn Rogers and Nostrand)

Comments

Howdy, Stranger!

Categories