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Brooklyn Development Assemblage — Up to 28, 000 Buildable Square Feet 2258 Atlantic Avenue, 185 Rockaway Avenue, 187 Rochester Avenue, 189 Rockaway Avenue & 189A Rockaway Avenue, Brooklyn, NY Prime Realty is proud to present an exceptional development opportunity in the heart of Brooklyn, consisting of five contiguous tax lots strategically positioned at the corner of Atlantic Avenue, Rockaway Avenue, and Rochester Avenue. Together, these parcels create a uniquely shaped development footprint with substantial street frontage and outstanding exposure along one of Brooklyn’s most active redevelopment corridors. Property Overview: This assemblage provides a total potential of approximately 28, 000 buildable square feet, offering flexibility for a variety of mixed-use, residential rental, condominium, or community facility projects. The site’s zoning and location allow for creative architectural design, with opportunities to incorporate ground-floor retail and modern residential units above, taking full advantage of the site’s high visibility and accessibility. Strategic Location: Located just minutes from Broadway Junction, one of New York City’s most significant transportation hubs, the site is ideally positioned for both residents and businesses. Multiple subway lines — including the A, C, J, L, and Z trains — connect the property directly to Downtown Brooklyn, Lower Manhattan, and Queens, making it an extremely convenient location for commuters and tenants alike. The property also benefits from proximity to major roadways such as Atlantic Avenue, Eastern Parkway, and the Jackie Robinson Parkway, providing quick vehicular access throughout the boroughs. The surrounding neighborhood continues to see strong momentum with new residential developments, retail growth, and infrastructure improvements, signaling sustained long-term demand and appreciation. Neighborhood Transformation: Over the past few years, Ocean Hill and Bedford-Stuyvesant have evolved into some of Brooklyn’s most active development zones. The corridor surrounding Atlantic Avenue and Rockaway Avenue has seen a steady influx of boutique rental buildings, renovated brownstones, creative offices, and new community spaces. The area’s mix of cultural vibrancy, accessibility, and affordability continues to attract young professionals, families, and investors seeking growth potential in a rapidly changing Brooklyn landscape. Investment Highlights: Assemblage of five contiguous lots with multiple street frontages. Up to ~28, 000 buildable square feet (verify zoning and FAR). Located along a major commercial thoroughfare with consistent foot and vehicle traffic. Ideal for mixed-use residential and retail development. Steps from multiple subway lines and bus routes. Minutes to Broadway Junction, a major transportation interchange. Surrounded by ongoing new developments and local retail revitalization. Excellent long-term growth potential in an emerging Brooklyn corridor. Summary: This is a rare chance to acquire a sizable development footprint in a prime Brooklyn location poised for continued appreciation. With its excellent transit access, strong retail presence, and flexible zoning, 2258 Atlantic Avenue and its adjoining parcels represent a true opportunity to build a high-impact project that meets the needs of Brooklyn’s growing residential and commercial market.
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Our Executive Mortgage Banker:
Our Insurance Division:
$3,300,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
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| Loan Amount | $2,640,000 | $2,640,000 | $2,640,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.500% | 6.125% | 6.000% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.165% | 6.259% | 6.183% |
| Monthly Tax Payment | $1,757 | $1,757 | $1,757 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $14,990 | $16,041 | $22,278 |
| Total Monthly Payment | $16,872 | $17,923 | $24,160 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.