JLL Capital Markets has been selected to exclusively market 2731 West 12th St. in Brooklyn, a 1.462-million BSF, M-zoned land parcel, which is one of the largest undeveloped tracts in New York City.
The 16-acre site, located in a qualified opportunity zone, is eligible for an ICAP tax abatement, a program that directly reduces the percentage of taxes paid for a period of 15–25 years. The M3-1 zoning provides a new owner the option to develop either a manufacturing facility or possibly a large-scale variety or department store. This combination of varied uses and substantial tax benefits makes 2731 West 12th St. a highly attractive investment for developers.
The current ownership has made a significant investment in satisfying its current regulatory obligations, which has positioned the site for immediate development.
The property’s location, with frontage along the Belt Parkway, provides easy access to the Brooklyn-Queens Expressway and Verrazano Bridge,
