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$ 19,900,000
Est. payment /mo
New
547 Atlantic AVE Brooklyn, NY 11217
7,590 SqFt
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Land
Listing Status Active
Purchase Type For Sale
Square Footage 7,590 sqft
Price per Sqft $2,621
MLS Listing ID 502110
Year Built 1900
Annual Tax Amount $24,312
Lot Dimensions 60 x 90
Property Sub-Type Land
Property Description
Prime development opportunity in the heart of Downtown Brooklyn. Located at 545-549 Atlantic Avenue, this assemblage offers exceptional potential just moments from the Barclays Center, Atlantic Terminal, and multiple subway lines. Situated within the R7A/C2-4 zoning district, the property provides approximately 21,600 buildable square feet and supports a wide range of mixed-use development possibilities. Rare opportunity to acquire a strategically located development site in one of Brooklyn's most dynamic and rapidly growing corridors. Buyers are advised to conduct their own due diligence regarding zoning, and development potential.
Hotel Development Opportunity
The proposed development envisions a luxury boutique hotel with integrated retail and parking components designed to maximize both room revenue and ancillary income streams.
Prime Atlantic Ave. frontage
Adjacent to Barclays Center and Atlantic Terminal
App. 21,600 buildable square feet
Strong transit connectivity
High barriers to entry for new hospitality developments
Opportunity for premium room rates driven by event demand
Proposed Program
Boutique Hotel: 55-75 Keys
Ground Floor Retail
Wellness / Spa Component
Rooftop Lounge or Event Space
Revenue Sources
Hotel Room Revenue
Food & Beverage Operations
Retail Rent
Parking Revenue
Event & Meeting Space Rentals
Wellness / Spa Revenue
Market Positioning
The property is positioned to capture demand generated by:
Brooklyn business travel
Downtown Brooklyn corporate offices
Brooklyn tourism
Visiting families and university-related travel
Illustrative Financial Outlook
Assuming:
65 Hotel Keys
Average Daily Rate (ADR): $325-$425
Occupancy: 75%-85%
Potential annual room revenue could exceed $6M-$8M before ancillary income.
Additional revenue generated through retail leasing, parking operations, food and beverage sales, and event programming may further enhance overall asset performance.
Hotel Development Opportunity
The proposed development envisions a luxury boutique hotel with integrated retail and parking components designed to maximize both room revenue and ancillary income streams.
Prime Atlantic Ave. frontage
Adjacent to Barclays Center and Atlantic Terminal
App. 21,600 buildable square feet
Strong transit connectivity
High barriers to entry for new hospitality developments
Opportunity for premium room rates driven by event demand
Proposed Program
Boutique Hotel: 55-75 Keys
Ground Floor Retail
Wellness / Spa Component
Rooftop Lounge or Event Space
Revenue Sources
Hotel Room Revenue
Food & Beverage Operations
Retail Rent
Parking Revenue
Event & Meeting Space Rentals
Wellness / Spa Revenue
Market Positioning
The property is positioned to capture demand generated by:
Brooklyn business travel
Downtown Brooklyn corporate offices
Brooklyn tourism
Visiting families and university-related travel
Illustrative Financial Outlook
Assuming:
65 Hotel Keys
Average Daily Rate (ADR): $325-$425
Occupancy: 75%-85%
Potential annual room revenue could exceed $6M-$8M before ancillary income.
Additional revenue generated through retail leasing, parking operations, food and beverage sales, and event programming may further enhance overall asset performance.
Location
State NY
County Kings (brooklyn)
Area Boerum Hill
Zoning R7A DB C2-
Interior
Equipment none
Exterior
Handicap Access No
Building
Story 3
Others
Financing 1031 Exchange,Bank Mortgage,Cash
Listed by GW Realty Inc.