Brooklyn Redevelopment Opportunity - retail for sale
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Overview
Three-story building with 32,858 sq. ft. for sale, located on the corner of Kings Highway and East 16th Street, close to various retail and residential buildings. Currently occupied by a bank branch, this property has a broad range of commercial uses and generous development standards that allow for commercial retail and/or multifamily redevelopment. Over one million residents live within a 3-mile radius, and the property is less than one block from the Kings Highway subway station (B and Q lines).
Investment highlights
- Currently occupied by a bank branch tenant who are prepared to discuss a short-term leaseback of all or part of the first floor
- Assigned to the C4-4A/R7 zoning designation with a broad range of redevelopment options for commercial and/or multifamily
- Highly-trafficked location
| General | |
| Property type | Retail |
| Tenure type | Sale/Purchase |
| Property address | 1602 Kings Hwy, Brooklyn, NY 11229-1210 |
| Market | New York |
| Land in acres | 0.21 |
| Building size | 32,858 ft2 |
| Year built | 1930 |
| Financial | |
| Price | Confidential |
| Cap rate | Confidential |
| Lease | |
Brooklyn Redevelopment Opportunity - retail for sale
Presented by:
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