8713 5th Avenue, Brooklyn, NY 11209

Bay Ridge, Brooklyn, New York 11209

$16,850,000  

Listing ID Number

25419

Property Description

Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of 8713-21 5th Avenue, a multi-tenanted medical office building featuring on-site parking, elevator access, and credit tenant NN leases. The building, which was renovated in 2011, is located on the northeast corner of 5th Avenue and 88th Street in Bay Ridge, Brooklyn, NY.

* The subject property is a 3-story (plus basement) elevator medical office building spanning approximately 14,800 SF and an on site parking lot

* The corner site occupies a single tax lot with approximately 175’ of frontage along 5th Avenue and 88th Street

* The property fully occupied by 4 credit tenants on long term leases and a NN basis. Tenants are responsible for all real estate taxes and utilities. The property also features a long-term antenna
lease with T-Mobile

* The building is in Year 9 of a 15 Year ICIP Tax Benefit

* Within 1 block of 86th Street – one of Brooklyn’s premier shopping destinations with considerable foot traffic and notable tenants, including Century 21, TJ Maxx, The Gap, and others

* Conveniently located just 2 blocks from the 86th Street R Train Station and the I-278 Gowanus Expressway providing connectivity throughout all of New York City

Overview

Building Type:Commercial Buildings

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

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

Michael J. Mazzara
Director
(718) 606 7052
michael.mazzara@cushwake.com

James Berluti
Associate Director
(718) 606 7053
james.berluti@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.