New construction, rent stabilized multi-family with 421A Tax Abatement. NOI approximately $300k - great income producing asset and 1031 candidate. Subway location, short distance to beach and promenade.
R-zones are intended for residential development, encompassing a wide range of housing types from single-family homes to apartment buildings. These zones are regulated by zoning laws to ensure that residential buildings meet specific density, height, and setback requirements to maintain neighborhood character and quality of life.
Lower density developments such as detached or semi-detached single-family homes, townhouses, and low-rise apartment buildings.