547 Atlantic Avenue,Brooklyn, NY 11217
Brooklyn, NY 11217
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.
Details
| MLS # | 502110 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1900 |
| Days On Site | 97 |
| Listing Provided By | GW Realty Inc. | Mari Mineh |
Features
| SQ Feet | 7,590 |
|---|---|
| Story(s) | 3 |
| Zoning | R7A DB C2- |
Exterior
| Road Frontage | 60 |
|---|
Taxes
| Tax Amount | 24312.00 |
|---|
Area Information
| State | NY |
|---|---|
| County | Kings (Brooklyn) |
| City | Brooklyn |
| Zip Code | 11217 |
| Area | Brooklyn |
| Subarea | Boerum Hill |
| Listing VS Median (in 11217) | |
Price: $16,000,000 low | high Med: $899,000 sqft: 7,590 low | high Med: 1,146 $ / sqft: $2,108 low | high Med: $784 On site: 97 low | high Med: 62 | |
Market Activity 11217
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Learn More About This Property
| State | NY |
|---|---|
| County | Kings (Brooklyn) |
| City | Brooklyn |
| Zip Code | 11217 |
| Area | Brooklyn |
| Subarea | Boerum Hill |
| Listing VS Median (in 11217) | |
Price: $16,000,000 low | high Med: $899,000 sqft: 7,590 low | high Med: 1,146 $ / sqft: $2,108 low | high Med: $784 On site: 97 low | high Med: 62 | |
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