733 Ocean Parkway is a modern condominium development named "Arbor" located in the Kensington neighborhood of Brooklyn, a residential area just south of Prospect Park. Below are the key details:
Development Overview: Arbor is a relatively new condo project completed around 2015-2016, marketed as an elegant residential building with upscale amenities. It’s designed to blend contemporary living with the tree-lined charm of Ocean Parkway, a historic boulevard designed by Frederick Law Olmsted and Calvert Vaux in the 1870s.

Building Specifications:
Height and Units: An eight-story building with 23 residential units. Early permits from 2019 proposed a nine-story structure with 30 units, but the final construction settled at eight stories and 23 units.

Size: Total area of 22,723 square feet, all dedicated to residential use, built on a 6,075-square-foot lot (51.58 feet wide by 111.35 feet deep).

Unit Features: Units range from studios to three-bedroom apartments, averaging around 937-1,300 square feet. They include floor-to-ceiling European windows, L-shaped kitchens, soaking bathtubs with armrests, frameless glass showers, and private balconies in some cases.

Amenities:
Arbor Lounge: A modern co-working lounge with custom design, connecting to the outdoor greenery of Ocean Parkway.

Arbor Fitness: A fully equipped gym with treadmills, stationary bikes, ellipticals, free weights, and yoga mats.

Rooftop: A fully amenitized space with lounge and picnic areas, BBQ grill, kitchenette, and panoramic views of Brooklyn and Manhattan skylines. Private cabanas are available for purchase.

Parking: Optional parking spaces can be bought separately (no on-site garage is standard).

Tax Abatement: Offers a 421-A tax abatement, extending through 2034, reducing property taxes for owners.

Developer and Management: Developed by 733 Development LLC (linked to Oleg Krasnitsky), with marketing by The Danielov Team at Corcoran. Management details are not fully specified but are overseen by a professional team.

Location Benefits:
Neighborhood: Kensington is a diverse, residential area with Victorian-style homes and prewar buildings, near Flatbush and Ditmas Park. It’s known for its quiet, old-school feel despite its global population.

Transit: Close to the F and G trains at the 18th Avenue or Church Avenue stations, and the Q and B trains are a short distance away in Ditmas Park.

Proximity: Near schools like P.S. 134, J.H.S. 62 Ditmas, and Midwood High School, plus local spots like DiFara Pizza and ShopRite on Avenue I.

Current Status: As of recent listings (e.g., 2024 data), units like 2C (2-bed, 2-bath, 937 sq ft) were listed for $860,000, and 8C (3-bed, 2-bath) for $1,300,000. The building is pet-friendly, investor-friendly, and allows subletting. It’s also approved for a first-time homebuyers’ program with favorable loan rates (e.g., 5.625% fixed for 30 years, subject to change). By March 2025, it’s fully constructed, with only a few units remaining unsold as of late 2024 reports.

Historical Note: The site was previously a smaller structure sold for $6 million in 2018, replaced by this condo to meet Kensington’s growing demand for modern housing. The building’s design reflects a balance of luxury and practicality, leveraging its prime spot along Ocean Parkway.