485 East 28th Street & 1463 New York Avenue

Investment Highlights:

Meridian Investment Sales is pleased to present the exclusive offering for 485 East 28th Street & 1463 New York Avenue – two elevator mixed-use buildings situated in the heart of Flatbush, Brooklyn that will be delivered 100% complete, pre-TCO by October 2021. The properties are situated in a federally designated Opportunity Zone allowing investors the rare opportunity to capitalize on meaningful tax incentives in a high rent growth neighborhood just steps away from the Newkirk Avenue Station (2/5 trains) and retail along Flatbush Avenue.

485 East 28th Street & 1463 New York Avenue are both in an R6 zone. 485 East 28th Street offers 16,416 GSF or 12,723 SF of ZFA and offers 40’ of frontage well located between Newkirk & Foster Avenues. 485 East 28th Street will also offer a 35-year 421a and will feature 17 residential units, 2,500 SF of community facility space and nine parking spaces. Similarly, 1463 New York Avenue offers 17,310 GSF or 13,297 SF of ZFA and offers 40’ of frontage well located between Foster Avenue & Farragut Road. 485 East 28th Street will also offer a 35-year 421a and will feature 17 residential units, 2,300 SF of community facility space and nine parking spaces. Building amenities include bicycle storage, common area rooftop, and solar panels for common area electricity. Overall, this is a unique opportunity to acquire two pre-TCO mixed-use elevator buildings in the Flatbush neighborhood located in a federally designated Opportunity Zone.