BKREA has been retained exclusively to arrange for the sale of 45 Beach Street and 560 Bay Street (“The Site”), a prime mixed-use development opportunity in the Stapleton Heights neighborhood of Staten Island. The Site is in an Opportunity Zone, bringing substantial tax incentives. The vacant site has approximately 575 feet of frontage along three sides, totaling 49,634 square feet. It's currently in a C4-2 Zoning (R6 Equivalent) district with an as-of-right FAR of 2.53 for residential developments, allowing a developable ZFA of 125,790 square feet. Expected zoning changes under the City of Yes Housing Opportunity zoning initiative could increase the FAR to 3.9, boosting the ZFA to 193,569 square feet by late 2024 or early 2025. The property is strategically located 10 minutes by bike from the Staten Island Ferry and 8 minutes from the Verrazano-Narrow Bridge, with excellent transit options including proximity to the Stapleton Staten Island Railroad stop and multiple bus lines. Perfectly positioned in the dynamic Stapleton Heights neighborhood, this site offers significant frontage, favorable zoning, and proximity to the Stapleton Waterfront, poised to become a landmark development.