45 Beach StStaten Island, NY 10304
45 Beach Street & 560 Bay Street
Asset ClassLand
Overview
BKREA has been retained exclusively to arrange for the sale of 45 Beach Street and 560 Bay Street (“The Site”), a prime mixed-use development opportunity in the Stapleton Heights neighborhood of Staten Island. The Site is in an Opportunity Zone, bringing substantial tax incentives.
The vacant site has approximately 575 feet of frontage along three sides, totaling 49,634 square feet. It's currently in a C4-2 Zoning (R6 Equivalent) district with an as-of-right FAR of 2.53 for residential developments, allowing a developable ZFA of 119.664 square feet. Expected zoning changes under the City of Yes Housing Opportunity zoning initiative could increase the FAR to 3.9, boosting the ZFA to 193,569 square feet.
Investment Highlights
- Opportunity Zone: The as of right is 119,664 SF now and the City of Yes is now approved, located in an Opportunity Zone with approved residential rezoning from 2019, offers significant tax incentives and is perfect for high-density residential projects, meeting the growing demand in this sought-after area.
- City of Yes for Housing Opportunity Zoning: Located in an area within the City's initiative which increases the ZFA to 193,569 with inclusionary housing and increase the residential FAR from 2.41 to 3.9.
- Vacant Possession: The site will be delivered completely vacant, allowing immediate demolition and streamlined redevelopment.
- Significant Frontage: Boasts approximately 575 feet of frontage on three sides in a prime location for development, enhanced by the unique convergence of the streets.
- Excellent Connectivity: Just a 10-minute bike ride to both the new Staten Island Fast Ferry (18 minutes to Manhattan) and Staten Island Ferry, an 8-minute drive to the Verrazano-Narrows Bridge, and a 4-minute walk to the Stapleton Railroad stop, offering seamless access to Brooklyn and Manhattan.
- Proximity to Waterfront: Just a 5-minute walk to the Stapleton Waterfront Park.
45 Beach StStaten Island, NY 10304
Sales Team
Listing provided by Revere CRE