Brooklyn Redevelopment Opportunity

1602 Kings Hwy Brooklyn , NY 11229

Brooklyn Redevelopment Opportunity - Retail for sale

Download Offering Memorandum

Overview


Jones Lang LaSalle, is pleased to offer for sale a three-story 32,858 s.f. commercial property currently occupied by a bank branch and located on the corner of Kings Highway and East 16th Street in Brooklyn, NY. The Property is less than one block from the Kings Highway subway station (B and Q line) and is positioned on a hard, signalized intersection in Brooklyn, in close proximity to various retail and residential buildings. Assigned to the C4-4A / R7 zoning designation, the Property has a broad range of permitted commercial uses and generous development standards that allow for commercial retail and/or multifamily redevelopment. As part of any transaction, the Tenant is prepared to discuss a short-term leaseback of all or part of the first floor.

Investment Highlights



·       Beneficial zoning and rare redevelopment opportunity

·       Prime positioning on hard corner

·       Outstanding demographics & large consumer base

·       Rare redevelopment and re-positioning opportunity

·       Prime hard corner with nearly 1,000,000 residents within 3-mile radius

·       Highly traffic location – over 6,000,000 riders a year on the adjacent B & Q subway platform

·       Exceptional immediate local retail corridor

General
Property Type Retail
Tenure Type Sale / Purchase
Property Address 1602 Kings Hwy, Brooklyn, NY 11229-1210
Land In Acres 0.21
Building Size 32,858  ft2
Financial
Price Confidential
Cap Rate Confidential
Lease

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