81 Irving Place

Vacant School Prime For Residential Redevelopment

81 Irving Place, Brooklyn, NY 11238
Asking Price $12,000,000
Type Development Project
Neighborhood Clinton Hill
Properties 1
Lot Size 80' x 100'
Zoning Code R7A
Size 18,520 SF
Stories 3
Units N/A (3 Floors)
Air Rights 13,480 SF

Investment Highlights:

Meridian Investment Sales is pleased to present the exclusive offering of 81 Irving Place – a vacant building formerly occupied by a school in the desirable Clinton Hill neighborhood of Brooklyn. Steps from the Fulton Street and Franklin Avenue commercial corridors, the property presents an exceptional opportunity for residential conversion or continued operation as a school or community use. The building currently spans 18,520 gross square feet across three floors with excellent ceiling heights (11’ 11” slab-to-slab on each floor) with legal, rentable square footage on the roof previously used as a playground. The property is zoned R7A and benefits from 13,480 square feet of extremely valuable as-of-right residential air rights. With recently completed residential developments on the surrounding blocks achieving sellouts in excess of $1,000 per square foot and rental rates of over $50 per square foot, the neighborhood is ideal for high-end condominium or rental development.

Location:

81 Irving Place, between Fulton Street and Putnam Avenue

Property Listing Contact:

David Schechtman // Senior Managing Director // 800 3rd Ave., New York, NY // 212.468.5907 // dschechtman@meridiancapital.com

Lipa Lieberman // Managing Director // 800 3rd Ave., New York, NY // 212.468.5908 // llieberman@meridiancapital.com

Abie Kassin // Director // 800 3rd Ave., New York, NY // 212.468.5909 // akassin@meridiancapital.com

Brian Gladstone // Associate // 800 3rd Ave., New York, NY // 212.468.5948 // bgladstone@meridiancapital.com