New York & Tri-State + Outer | August 21, 2018

Ariel Markets Greenpoint Site with Favorable Zoning

Ariel Property Advisors has been exclusively retained to sell 173-175 McGuinness Blvd., a development site in Brooklyn’s Greenpoint neighborhood that benefits from higher-density zoning than usual for the neighborhood. The firm’s Daniel Tropp, Sean R. Kelly and Alexander McGee are representing the owner, who is asking $5.4 million.

The 50’ x 100’ site is situated in an Inclusionary Housing Zone, between Meserole Avenue and Calyer Street. Zoned R7A, the property’s 3.45 FAR allows 15,094 buildable square feet as-of-right for residential use, or 20,125 for inclusionary housing. The site will be delivered vacant.

In addition to its proximity to the G train, which will benefit from increased service and additional cars during the temporary L train shutdown beginning next April, the property is also walking distance to many popular neighborhood destinations. Among these are the Greenpoint Avenue and Manhattan Avenue retail corridors, Cafe Grumpy and McCarren Park.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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