th St. Brooklyn, NY

Transcription

1 th St. Brooklyn, ~162,951 SF CMMERCIL FCILIT IT SIGIFICT UPSIDE In the heart of Sunset Park, Brooklyn FR SLE Property Features Property Description Located on the north side of the 39th St. Location between 3rd and 4th ve. in the Sunset Park neighborhood of Brooklyn. Block 704 Lots Total Lot Dimensions 120 x x x 100 Lot Size (SF) 12,020 6,010 18,030 Zoning M1-2 M1-2 Manufacturing FR Building Dimensions 120 x x 60 Stories 10 7 Building SF (approx.) 131,565 31,386 Grossed SF (approx.) 162,951 vailable ir Rights verbuilt ssessment (15/16) $1,807,460 $758,430 $2,565,890 Taxes (15/16) $193,108 $81,031 $274,140 sking Price: $49,750,000 Cushman & akefield has been retained on an exclusive basis to arrange for the sale of th Street, a commercial facility located on 39th Street between 3rd and 4th venues in the Sunset Park neighborhood of Brooklyn. The subject property features two adjacent buildings that encompass 162,951 gross square feet and stand 10 and 7 stories tall, respectively. The buildings boast large open floor plates and soaring ceiling heights that provide a blank canvas for an office use or a potential multifamily conversion. The property will be delivered fully vacant, allowing a purchaser to immediately implement a renovation strategy to transform the property into a premier facility in the heart of one of the most booming submarkets in the borough. The subject property is situated on 39th Street, a bi-directional street that is accessible from both 3rd and 4th venues. The property sits only a half block from the Brooklyn-Queens Expressway (I-278) with exit ramps from the expressway connecting to 2nd and 4th venue between 38th and 39th Street. This provides excellent connectivity to the rest of the city and offers a minute commute to Downtown Brooklyn and Manhattan. The property can also be accessed by a myriad of public transit options, including the D,, and R subway stations as well as the B35, B37, and B70 bus routes. Such exceptional accessibility provides enormous benefits to both residents and office tenants. dditionally, the property is located only three blocks away from Industry City, Brooklyn s six million square foot mixeduse commercial campus located on the Sunset Park waterfront. The revitalization of this massive complex is driving an unprecedented level of new demand from both traditional and modern businesses, including design and technology firms, manufacturing and distribution companies, as well as a diverse array of TMI tenants. This project undoubtedly serves as a catalyst for creating enormous demand for new space in the Sunset Park neighborhood, making assets like th Street ideally-positioned to capitalize on future growth throughout the area. verall, the outlook for both residential and commercial office space in the Sunset Park neighborhood is extremely positive. The supply of space remains tight, as existing product continues to be taken offline for residential conversion in response to the unprecedented demand for apartments in the area. dditionally, there has been a significant influx of new amenities in the neighborhood that have helped spur overall interest from businesses. Public and private investment continues to flow into the area, driving robust leasing activity and rapid absorption of both apartments and office space. s such, th Street represents an exceptional opportunity to acquire a large-scale commercial property with tremendous upside in one of the most desirable and fastest growing submarkets in the city. For More Information, Please Contact: Robert Knakal Chairman (212) robert.knakal@cushwake.com aron arkov (718) aaron.warkov@cushwake.com Jonathan ageman (212) jonathan.hageman@cushwake.com Zach Rosenberg ssociate (212) zachary.rosenberg@cushwake.com Cushman & akefield 275 Madison ve, 3rd Fl ew ork, phone: nyinvestmentsales.com Cushman & akefield Copyright o warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). s applicable, we make no representation as to the condition of the property (or properties) in question.

2 34 MSPET L IT FR E S T M R TL E th Street Brooklyn, T ME 23 R P RIDGED FD R E DRI Rooftop iew from th Street Manhattan Industry City Bed Bath & Beyond I L S Costco BUSICK B U S IC K CE I BRSI M RT LE o str DT T U S ER T IC D E RK TRSIT MUSEUM CRRLL GRDES E I T R P E FLTBUS B E RGE S T C U I S T SLPE SLPE 9 BTIC GRDE RC BR FLTBUS PRSPECT GERRS ISLD U PRSPECT F IFT T R S RED RED K K CR v EIGTS d FR S BTTER TUEL BED DT : 15 MI BRIDGE E UT FICIL FICIL DIRICT DIRICT EIGTS an RG BE IC FRT GREEE DUMB DUMB UT BRIDGE IC K E F LTB US R KS ID MTT: P 20 MI PK T IL D M D L CE MIDD CE PK T d R IS FR un F 39 bo ED E 38th REET so h ut B GREE-D CEMETER IDUR CIT C LT 54 LT 51 KI BRUG G S SUSET 4T EUE 3RD EUE T REET 100 DG E 100 BRI GLEDLE D EXP L LG IS 39th REET sking Price: $49,750,000 B RIDGE BESUR 86 S T For More Information, Please Contact: Robert Knakal aron arkov Jonathan ageman Zach Rosenberg Chairman (212) robert.knakal@cushwake.com (718) aaron.warkov@cushwake.com (212) jonathan.hageman@cushwake.com ssociate (212) zachary.rosenberg@cushwake.com Cushman & akefield 275 Madison ve, 3rd Fl ew ork, phone: nyinvestmentsales.com CE ISLD Cushman & akefield Copyright o warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). s applicable, we make no representation as to the condition of the property (or properties) in question.

3 Broker Confidentiality and Indemnification greement th Street, Brooklyn, ew ork Principal: Title: Company: ddress: ddress: Phone/Fax: ( Potential Purchaser ) Salesperson: Company: ddress: ddress: Phone/Fax: ( Broker ) Re: Confidentiality and Indemnification greement e have advised you that Cushman & akefield Realty of Manhattan LLC, ( gent ) is acting as exclusive agents on behalf of the ownership and their related companies, The wner ( wner ), in connection with the possible sale th Street, Brooklyn, ew ork the ( Property ). ou have informed us that _ ( Broker ) is authorized to act on behalf of - ( Potential Purchaser ) and represent that Potential Purchaser is interested in the possible purchase of the Property, and has the experience and financial capabilities to undertake a transaction of this magnitude. Broker may make such Confidential Information available to Potential Purchaser upon execution of this Confidentiality Letter. The Confidential Information is intended solely for Potential Purchaser s limited use in evaluating the Property. This is not an agreement to sell the Property or any interest therein. o agreement binding upon wner, or any of its associated or affiliated companies, to sell the Property shall be deemed to exist, at law or equity, until wner enters into a formal binding agreement, fully executed and delivered by all parties thereto. Broker has no authority to bind wner in connection with the sale of the Property or otherwise. Page 1 of 4

4 2 The Confidential Information contains brief, selected information pertaining to the Property and the business and affairs of wner. It does not purport to be all inclusive or to contain all the information which Potential Purchaser or a prospective purchaser or lender may desire. either gent, wner, or Broker makes any representation or warranty, expressed or implied, as to the accuracy or the completeness of the Confidential Information and no legal liability is assumed or to be implied with respect thereto. Broker has informed Potential Purchaser that it is of utmost importance that all discussions concerning the proposed transaction (including, without limitation, the fact that any discussions have taken or are taking place) be kept in strict confidence. ccordingly, Potential Purchaser hereby agrees that the Confidential Information will be used only in connection with the proposed transaction and its consideration thereof, and that all discussions concerning the transaction, as well as all Confidential Information, will be kept confidential by Potential Purchaser and its partners, officers, members, agents, employees, contractors, and consultants, and shall not, except as hereinafter provided, be disclosed in any manner whatsoever without the prior written consent of wner, which may be granted or withheld in wner s sole and absolute discretion. Information concerning the transaction and the Confidential Information shall be submitted only to those partners, officers, members, agents, employees, contractors and consultants who need to know such information for the purpose of evaluating the transaction and who shall (i) be advised by Broker or Potential Purchaser of the confidential nature of the information and (ii) shall be instructed by Broker or Potential Purchaser to treat such information confidentially. Broker and Potential Purchaser will be responsible for any such persons to comply with such instruction. wner expressly reserves the right to reject any or all proposals or expressions of interest to purchase the Property, to consummate the sale of the Property to a party other than Potential Purchaser, and to terminate discussions at any time with or without notice. If Potential Purchaser does not wish to pursue negotiations, or such negotiations are undertaken but a transaction fails to be consummated with Potential Purchaser, Potential Purchaser hereby agrees to promptly return the Confidential Information to gent. Broker and Potential Purchaser understand and foresee that any violation of this Confidentiality Letter would damage wner and gent and their respective successors. Broker and Potential Purchaser hereby agree to indemnify, defend and hold harmless wner and gent and their respective members, directors, officers, employees, agents, representatives, successors and assigns from and against any and all liability, claim, demand, loss, cost, damage, expense or cause of action (including without limitation, reasonable attorneys' fees and expenses) in connection with any breach or alleged breach of the confidentiality provisions of this greement. In addition, Broker and Potential Purchaser agree that wner and gent will have no adequate remedy at law if Broker or Potential Purchaser violates any of the terms of this Confidentiality Letter. In such event, wner and/or gent will have the right, in addition to any other right wner and gent may have, to seek injunctive relief to restrain any breach or threatened breach by Broker or Potential Purchaser or specific enforcement of such terms. Broker and Potential Purchaser understand and agree that the Confidential Information does not purport to be complete and accurate, and that Broker and Potential Purchaser will rely entirely on its own due diligence with regard to all matters. o representations or warranties are implied by the submission of the Confidential Information and none is given unless wner subsequently elects to make specific, limited representations and warranties in a final, fully executed and delivered, sale agreement definitive in form and scope. Broker and Potential Purchaser agree that neither wner nor gent shall not have any liability to Broker or Potential Purchaser as a result of its use of the Confidential Information and it is understood that Broker and Potential Purchaser are expected to perform and be responsible for such due diligence investigations and inspections of the Property, including investigation of any environmental conditions, as Potential Purchaser deems necessary or desirable and as permitted by agreement with wner. Page 2 of 4

5 3 ery truly yours, Cushman & akefield Realty of Manhattan LLC, gent By ame: Robert. Knakal Title: Chairman CCEPTED D GREED T: Principal: Signature: Title: (Please Print) Dated:, 2015 Broker: Signature: Title: (Please Print) Dated:, 2015 Please or fax this fully executed agreement to Leica Meliton at: leica.meliton@cushwake.com or (347) Page 3 of 4

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