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540 Atlantic Avenue
Update
12/11/23
Boerum Hill Development Site Trades for $38M
A large development site, located at 540 Atlantic Avenue in Brooklyn's Boerum Hill neighborhood, has just been sold for $38 million. The lot was purchased by JCS Realty Group from the previous owner, DMA Associates, in a deal brokered by JLL. The 28,357 square-foot site is currently home to a 5-story office building, but the property boasts ample redevelopment potential, with a maximum zoning allowance of 113,000 buildable square feet. JCS Realty Group therefore has plans to construct a brand new, mixed-use development, on the lot, which will feature 154 apartment units.
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