GFI REALTY services EXCLUSIVE OFFERING

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1 GFI REALTY services EXCLUSIVE OFFERING sunset park warehouse great redevelopment opportunity 0,000 sf of air rights available 40 nd Avenue Brooklyn, NY Askng Price: $0,500,000

2 40 nd Avenue brooklyn, NY sunset park aerial

3 40 nd Avenue brooklyn, NY sunset Park property description GFI Realty Services LLC is pleased to present the exclusive offering of 40 nd Avenue (aka nd Street), a 9,750 sf single-story warehouse located at the intersection of nd Avenue and 4nd Street in the Sunset Park section of Brooklyn. The asset is occupied by a single tenant; there is a (49)-year NNN lease in-place with 4.5 years remaining and an annual income of $9,00. There are approximately 0,000 sf of air rights available presenting a future investor with a great redevelopment opportunity. The parcel is zoned M- with a maximum allowable floor area ratio of.0. The asset is ideally situated just blocks from the waterfront, Bush Terminal Piers Park and South Brooklyn Marine Terminal. The asset is surrounded by numerous attractions and retailers including the Brooklyn Flea, Costco Wholesale, Sunset Park and Industry City, a massive complex of historic warehouses along Sunset Park s waterfront that have been converted into creative office and retail space. The property is located at the center of the development activity in Sunset Park. In 07 the city announced $6 million plan to renovate two buildings at the nearby Bush Terminal for a fashion, film and food manufacturing campus. Since 0, more than $00 million has been invested in restoring the 6-building, 0- acre property of Industry City, which has seen its workforce triple to about 6,000, during that same period. The development of Industry City has resulted in an increase in residents who are looking to live and work in close proximity to one another. This acquisition presents an investor with the unique opportunity to acquire a 9,750 sf commercial building with an additional 0,000 sf of air rights available located in a prime area of Brooklyn. The asset is just blocks from Industry City and the waterfront. Several large national retailers have already opened in the neighboring area including Bed, Bath and Beyond and Saks Off Fifth. The property is easily accessible via the D, N, R & W subway lines, which are located just a short walk away. The Gowanus Expressway is located just two blocks away from the building. Investment Highlights Great Redevelopment Opportunity with Appx 0,000 SF of Air Rights Available Only 4.5 Years Remaining on Lease Located in Prime Area Just Blocks from Industry City Surrounded by Numerous National and Local Retailers Proximity to Major Commercial Corridors, Parks, Institutions and Mass Transit Asking Price: $0,500,000 PSF: $5 Price Per Buildable SF: $64 Block & Lot 7/9 Year Built 974 Lot Size 00. x 00 Built 00 x (approx. 9,750 SF) Air Rights Available: 0, SF Zoning M- FAR.0 FAR as Built 0.99 Tax Class 4 Mortgage Delivered free and clear.

4 40 nd Avenue brooklyn, NY sunset Park tax map 4

5 40 nd Avenue brooklyn, NY sunset Park marketplace overview 5

6 40 nd Avenue brooklyn, NY sunset Park marketplace overview Sunset Park is a neighborhood in the southwestern part of Brooklyn. The area has undergone tremendous revitalization over the last several years including redevelopment along the waterfront and the development of nearby Industry City. Also, a green space, Bush Terminal Park, opened along the water between 44th and 5st Streets in 04 with walking paths and baseball fields. The Brooklyn Nets opened a new training center n Sunset Park earlier this month. And the popular Brooklyn Flea & Smorgasburg moved in for the winter season. Residents are attracted to the increase of office buildings in the area, allowing them to live and work in close proximity. Notably, Publicis announced plans to expand its global brand asset production division Prodigious with a new office in Industry City, the 6-building, 6 million square-foot complex on the waterfront in the Sunset Park. Additionally plans have been filed for a nine-story mixed-use structure at 607 4th Avenue; an eight-story building totaling 7,000 sf located at 50 4th Avenue; and a 8 ft concrete manufacturing plant located at 740 rd Avenue. Sunset Park easily accessible via the D, N & R subway lines as well as the New York Ferry. 6

7 40 nd Avenue brooklyn, NY sunset Park neighborhood map South Brooklyn Marine Terminal nd Ave 7 5th St rd St 4th St 8 Gowanus Expy st Ave 9th St nd Ave 7th St 6th St 9 6 st Ave 4st St 4nd St 9th St rd Ave Gowanus Expy 5th St 6th St 7th St 40th St 44th St 4rd St 5 nd Ave 4st St 9th St 47th St nd Ave 48th St 47th St 40 nd Avenue Brooklyn, NY 46th St 45th St 44th St 4rd St Gowanus Expy 4nd St 45th St Gowanus Expy 44th St 4rd St 4nd St 4st St 40th St 4rd St 4nd St 4st St 4th Ave 4th Ave th St 9th St 8th St Restaurants Retails Institutions Tacos El Bronco Burger King Little Caesars Pizza Domino s Pizza McDonald s Dunkin Donuts Industry City Distillery Pickle Shack Avocaderia 4 Design Within Reach Brooklyn Outlet Costco Wholesale Tabla Rasa Gallery BP Sunset Park Library St. Michael s R.C. Church United States Postal Service 7

8 40 nd Avenue brooklyn, NY sunset Park zoning overview The M district is often a buffer between M or M districts and adjacent residential or commercial districts. Light industries typically found in M areas include woodworking shops, auto storage and repair shops, and wholesale service and storage facilities. In theory, nearly all industrial uses can locate in M areas if they meet the more stringent M performance standards. Offices, hotels and most retail uses are also permitted. Certain community facilities, such as hospitals, are allowed in M districts only by special permit, but houses of worship are allowed as-of-right. In M-5A and M-5B districts mapped in SoHo/NoHo, artists may occupy joint living-work quarters as an industrial use in loft buildings. Other than M districts paired with residence districts in Special Mixed Use Districts M-D, M-5M and M-6M districts are the only manufacturing districts in which residences are permitted. In M-D districts, limited new residential uses with a maximum FAR of.65 are permitted only by City Planning Commission authorization. In M- 5M and M-6, space in an industrial building may be converted to dwelling units, provided a specified amount of floor area is preserved for particular industrial and commercial uses. Conversion to dwellings is also allowed, with restrictions, in the Special Tribeca Mixed use District. Floor area ratios in M districts range from.0 to 0.0 and building height and setbacks are controlled by sky exposure planes which may be penetrated by towers in certain districts. Although new industrial buildings are usually low-rise structures that fit within sky exposure planes, commercial and community facility buildings can be constructed as towers in M- through M-6 districts. In the highest density manufacturing district, M-6, an FAR of can be achieved with a bonus for a public plaza. Except along district boundaries, no side yards are required. Rear yards at least 0 feet deep are usually required, except within 00 feet of a corner. Parking and loading requirements vary with district and use. M-, M-, and M- districts are subject to parking requirements based on the type of use and size of an establishment (Section 44- of the Zoning Resolution). For example, a warehouse in the M- district requires one off-street parking space per,000 square feet of floor area or per every three employees, whichever would be less. Parking is not requires in Long Island City or M-4, M-5 and M-6 districts. Requirements for loading berths of specified dimensions differ according to district, size and type of use. 8

9 40 nd Avenue brooklyn, NY sunset Park transit map Sunset Park is served by road and rail services. The neighborhood has access to three limitedaccess highways; the I-78 (Gowanus) and NY 7 (Prospect) Expressways as well as the Belt Parkway. Six New York City Bus bus lines serve Sunset Park: B9, B, B5, B7, B6 and B70. Several subway routes run through Sunset Park. The BMT Fourth Avenue Line (D, N, and R trains) has stations at 6th Street, 45th Street, 5rd Street and 59th Street. The BMT West End Line (D train) has a station at Ninth Avenue. The BMT Sea Beach Line (N train) has one station in Sunset Park at Eighth Avenue. 9

10 40 nd Avenue brooklyn, NY sunset Park property map Sunset Park offers easy access to Manhattan via numerous subway lines as well as the New York Ferry. The area is booming with development of both residential and office space. Additionally, national and local retailers are flocking to the area. 0

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