321 Douglass Street, Brooklyn, NY 11217

Gowanus, Brooklyn, New York 11217

$8,000,000  

Listing ID Number

25562

Property Description

Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of a commercial building with development potential in Gowanus, Brooklyn.
The subject property is located on the north side of Douglass Street between 3rd and 4th Avenues in the Gowanus neighborhood of Brooklyn. The lot dimensions are 80’ x 100’ and it contains an improved, single-story brick warehouse that measures 8,000 SF. The property is built full to the lot and contains two curb cuts and two roll up gates. The property is located in an M1-2 zoning district which has a 2.0 FAR and allows for 16,000 SF of commercial development as-of-right. 321 Douglass Street is owner occupied and will be delivered vacant upon sale.
The Department of City Planning (DCP) released a rezoning framework in June 2018 that divides the Gowanus into 10 “submarkets.” 321 Douglass Street is located within the “Midblock” submarket which will increase the allowable density for industrial, commercial, and arts-oriented uses, alleviate parking requirements, and restrict residential uses. 321 Douglass Street is well positioned to benefit from the upzoning and the surrounding commercial and mixed-use future development.
Situated between three well-established residential neighborhoods, Cobble Hill, Boerum Hill, and Park Slope, Gowanus has become the connecting fabric of the area offering a variety of retail destinations including: Whole Foods, Freek’s Mill, Claro, Insa, Royal Palms Shuffleboard, Pig Beach, Dinosaur BBQ, Three’s Brewing, Other Half Brewing, Court Street Grocers, Abbotsford Road Coffee Specialists, and the Bell House to name a few. 321 Douglass Street is located just five blocks south of Brooklyn’s premier entertainment and transportation hub, Barclay’s Center and the Atlantic Terminal. The property is also located three blocks north of the Union Street subway station (R), is surrounded by numerous Citi Bike stations and is serviced by multiple bus routes.

Overview

Building Type:Development/Conversion Sites
Location:Located on the north side of Douglass Street between 3rd and 4th Avenues
Lot Dimensions:80' x 100'
Lot Sq Ft:8,000
Buildable Sq. Ft:16,000
Available Air Rights:8,000
Stories:1
Zoning:M1-2
FAR:2.00
Tax Year:2018/2019
Assessment Value:$242,370
Taxes:$23,204
Building Sq Ft:8,000

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

Winfield Clifford
Senior Director
(718) 606 7054
winfield.clifford@cushwake.com

William Barrett
Senior Associate
(718) 606 7047
william.barrett@cushwake.com


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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.