184 Kent Avenue

Williamsburg, Brooklyn, New York 11249

Listing ID Number

25018

Property Description

Cushman & Wakefield is pleased to present for sale a rarely-available retail asset & garage space located at 184 Kent Avenue in the coveted Northside Williamsburg neighborhood of Brooklyn.

The offering comprises a 17,330 square-foot retail condominium on the ground floor and a nearly 59,000 square-foot garage spanning three floors. Both are part of the Austin Nichols House, one of the last iconic structures on the edge of the East River. The nearly 100-year-old commercial edifice was recently redesigned by Morris Adjmi into an amenity-rich luxurious waterfront residential complex, bringing exciting residential and retail opportunities to the vibrant Northside Williamsburg neighborhood.

The retail condominium is currently occupied by six (6) prominent tenants, SoulCycle, La Nonna restaurant, Kidville, NYC Pet, Pure Cleaners and Pudge Knuckles cafe. All retail spaces benefit from high visibility, sharing over 380 feet of combined frontage and drawing growing foot traffic from multiple new developments along Wythe and Kent Avenue corridors that will add over 4,000 units including the 338 brand new residential condominiums that are part of the Austin Nichols House. Together, the commercial spaces generate over $815,000 annually.

Additional income may be captured from the garage spanning 200 legal spaces that may be augmented to 300+ spaces with parking lifts. The approximately 59,000 square-foot parking garage will be delivered without encumbrances. High demand for parking space in Northside Williamsburg commands rates upwards of $300/month, presenting an opportunity to capture close to $1,000,000 of additional income.

184 Kent is situated in a highly sought-after location that for years has attracted a diverse, energetic demographic fueling the rise of new, creative, avant-garde business ventures and industries in Williamsburg. Close proximity to five train lines and a ferry terminal as well as a growing fleet of services like Uber, Lyft and Via servicing the borough further contribute to the desirability of this asset.

Overview

Building Type:Commercial Condo/Co-op

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

Robert A. Knakal
Chairman, New York Investment Sales
(212) 660 7777
robert.knakal@cushwake.com

Adam Spies
Chairman
(212) 841 5903
adam.spies@cushwake.com

Stephen P. Palmese
Vice Chairman
(718) 307 6552
stephen.palmese@cushwake.com

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


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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.