Partially Underwater Development Site Asks $2.3 Million, Proposes Boat Parking

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A huge waterfront site in Sheepshead Bay is on the market for $2,300,000. However, there’s a catch: Not only was Sheepshead Bay in general hard hit during Sandy, but 68 percent, or 53,000 square feet, of this 78,000 square foot property at 2433 Knapp Street sits “below the median high water line,” according to TerraCRG, which is marketing the site. That leaves approximately 25,000 square feet for residential development.

The empty site comes with proposed plans (they have not yet been approved, as far as we can tell from DOB records), including the above rendering, for a three-story building with 18 units. Not only would there be 18 outdoor parking spaces but the property would also come with 36 boat slips!

The proposed apartments would be luxury and range from about 1,000 to 1,800 square feet in size. The site presents a development opportunity to build condos at a low cost, according to TerraCRG. “The shortage of condos in Brooklyn presents an opportunity for developers to build waterfront condos for less than $100 a buildable square foot,” said one of the agents in a press release about the offering.

Rendering via TerraCRG

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