TSC.Tri State Commercial · Prepared for Mr. Lee · Confidential

Block 1590 · Lots 4 & 9 · Bedford-Stuyvesant

5 Stuyvesant Ave
+ 984 Broadway

A 1909 domed bank on the Stuyvesant corner and a 2015 store on Broadway, under the J/M/Z one block from Myrtle Av. Two lots that touch, one owner, and room for more than twice what stands today.

Combined lot
9,152 SF
Zoning
C4-4L · EC-4
Built today
18,425 SF
Buildable today
45,852 SF
With rezoning
up to 82,551
Asking
$16M

Drag to orbit · scroll to zoom

Stories
Height
Floor area
Apartments
Land value at $175 to $242 / SF

The corner

Two corner lots, one shared lot line, three street fronts

Lot lines from the city's tax map. The lots meet along about 78 feet, so they merge into one zoning lot, and the bank's unused floor area can move onto Lot 9.

Lot 4 · 5 Stuyvesant Ave
5,625 SF
Former Prudential Savings Bank
1909 · 3 st · 11,592 SF
Lot 9 · 984 Broadway
3,527 SF
Retail with 2 apartments
2015 · 2 st · 6,833 SF
Zoning
C4-4L (R7A) · EC-4
Floor area ratio
4.00 · 5.01 with UAP
Built today
2.0 FAR
Owner of record
Bang Keun & Sons Corp.

The bank is the story

Columns, a dome, and 117 years on the corner. Kept and restored, it gives a buyer a storefront no new building can copy.

The el sets the shape

Upper floors step back from Broadway above the lower stories, and the Broadway ground floor must stay retail with glass storefronts.

What it is worth

Drag the price per buildable foot and watch the asking price

The closest sale on this corridor, 1150 Broadway in August 2026, went for $175 per buildable SF on the same zoning. The $16M ask needs a rezoning to make sense.

$242
Build on the full siteKeep the bank, build on Lot 9$16M asking price

Three ways to sell

Each buyer pays for a different future

A buyer who keeps the bank

$5.6M to $7.7M

For the 31,727 SF that fits on Lot 9 today, plus whatever the restored bank is worth as an 11,592 SF retail or event building.

A buyer who builds on the full site

$8.0M to $11.1M

45,852 buildable SF with no approvals. Closing in 3 to 6 months, no rezoning risk for the seller.

Sale with a rezoning bonus

$10.5M + bonus

Cash at closing, then a payment per SF for every buildable SF the city approves above 45,852. Set the terms below.

If no rezoning
If rezoned to R8A · +20,042 SF
If rezoned to R9A · +36,699 SF

The path to a rezoning

About two years from survey to vote

Weeks 0 to 6

Confirm the site

Survey both lots, clear title, and test-fit the as-of-right building.

Months 1 to 3

Meet City Planning

Test R9A as the target and R8A as the fallback before spending on an application.

Months 3 to 18

Prepare the filing

Environmental review, the affordable housing plan, and a station access offer to the MTA.

Months 18 to 25

Public review

Community Board 3, the Borough President, City Planning, then the City Council.