Brooklyn Redevelopment Opportunity

1602 Kings Hwy Brooklyn , NY 11229

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

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