370 Bedford Avenue

Williamsburg, Brooklyn, New York 11249

$17,000,000  

Listing ID Number

24984

Property Description

Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of a brick mixed-use building located in Brooklyn’s Williamsburg neighborhood.

The six-story building spans over 21,500 SF and hosts 29 apartments above a 725 SF commercial space leased to a beauty salon until 2024. One unit is rent-controlled, while the remainder are rent-stabilized. The current rent roll averages at approximately $30/SF constituting considerable upside as units are brought up to market rate. At its full potential, the property could generate over $1 million annually.

The property is ideally located within just a few blocks of the J M Z train station at Marcy Avenue with direct access to Manhattan. The 3.3-million-square-foot Domino Sugar Refinery mega-development within will generate increased foot traffic and bring additional amenities to the neighborhood.

Overview

Building Type:Mixed-Use Investment Buildings
Location:Located on the west side of Bedford Avenue between S 4th and S 5th Streets
Lot Sq Ft:4,934
Stories:6
Units:30
Residential Units:29
Commercial Units:1
Zoning:M1-2 / R6
Taxes:$115,564
Building Sq Ft:21,567
Building Dimensions:47.67' x 90.5'

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

Brendan Maddigan
Executive Managing Director
(718) 307 6507
brendan.maddigan@cushwake.com

Mark L. Lively
Director
(718) 307 6524
mark.lively@cushwake.com

Ethan Stanton
Associate Director
(718) 307 6553
ethan.stanton@cushwake.com

Michael Gigante
Senior Associate
(718) 307 6555
michael.gigante@cushwake.com


Property Images

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Property Map


Aerial View


The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.