$349,000

255 York Avenue, Staten Island, NY 10301 - R5 zone - Six-Unit Residential Development Opportunity An excellent opportunity to acquire a multi-family residential development site in New Brighton, in a Federal Economic Qualified Opportunity Zone offering exceptional tax incentives. The site also qualifies for the NYC 485-x Affordable Neighborhoods for New Yorkers property-tax exemption. Zoning allows for up to a six-unit residential building. The property is within 3/4 of a mile of the Staten Island Ferry, as well as from several transformative public and private investments, including the completed $200 million Lighthouse Point development, featuring 115 residences and approximately 60,000 square feet of commercial space; Empire Outlets; and the City's planned redevelopment of the former New York Wheel and Empire Outlets waterfront sites, with new housing, retail, community facilities, and public open space. The broader area also benefits from the Bay Street Corridor Neighborhood Plan, which is projected to add approximately 2,560 residences, along with new commercial and community-facility space. Additional North Shore initiatives include more than $400 million in public investment, an envisioned 20-acre continuous waterfront esplanade, and ongoing infrastructure and open-space construction at the New Stapleton Waterfront. 255 York Avenue offers developers and investors the opportunity to participate in the continued growth of Staten Island's downtown and North Shore communities. Concept renderings and site plan are provided solely for marketing and feasibility purposes. The property is offered as-is. Consult with your architect. Zoning Analysis and Survey provided.