MTA tests rezoning upside with Pacific Street offering
The MTA is taking a swing at cashing in on Brooklyn’s latest rezoning wave, putting a long-overlooked Pacific Street parking lot on the block with residential upside baked in. The agency issued an RFP for 1119 Pacific Street, a 30,000-square-foot site it has used for parking since 2009. The offering is straightforward — sell the land to fund the transit system’s capital program — but the real story is what changed: zoning. Until recently, the parcel was hemmed in by low-density commercial and industrial restrictions. Now it can support roughly 300 apartments. That shift is the direct result of two […]
This article originally appeared on The Real Deal. Click here to read the full story.
Categories
Recent Posts
New York City halts office-to-resi conversion at 222
Broadway
DOJ launches criminal investigation into camps owner Simad
Holdings, David and Michael Shabsels
Deal Diary: 9 Years, 39 Doors, and $20K a Month in Cash
Flow—Here’s How Jefferson Simmons Built His Portfolio
One Rental Property Saved Me From My 100-Hour
Workweeks
The “Repeatable” Strategy That Helped Him Buy 6 Rentals in 6
Months (Working 9-5)
Cash Flow vs. Appreciation: What Should Beginners Focus on?
(Rookie Reply)
6 Reasons Why Buyers Walk Away After Touring a Home
Location vs Property Size: What Matters More When Buying a
Home?
Low-Maintenance Living: Top Features That Make a Home Easier
to Maintain
Rybak bucks 485x slump with 500-unit Coney Island
development
