MikeF at Brooklynian has his antenna out. Here's his latest:
Looks like the old Toomey's diner at the corner of Empire and Rogers is about to be sold again. The zoning is R5 with an overlay of C1-3, so look for a buyer who can build a fairly squat building of up to 9,000 buildable square feet. The lots not that big. It's all about whether you can make a profit of course. Look at that crazy tiny triangle lot on Washington Avenue next to the S train if you need proof.
Note, the lot hasn't sold yet, but these lines from the prospectus say it all about the neighborhood's current advantages. At $3.2 million for the land, the price has increased threefold in two years. And as the Q's refrain goes, it is highly unlikely that any means-tested units will be built.
•Rising rents, one of the highest rent increases in any neighborhood in Brooklyn.
•The property is located two blocks from the Sterling St [2,5] train station. - See more at: http://www.brooklynian.com/discussion/44783/341epw-folks-to-develop-toomey039s-old-spot#Item_2