FOR SALE EXCLUSIVE LISTING EMH Commercial Realty 123 Park Ave Brooklyn, NY 11205 Exclusive Agent: Baruch Edelkopf
Description: EMH Commercial Realty has been retained as the exclusive agents to facilitate the sale of 123 Park Ave, a redevelopment opportunity in the Fort Greene section of Brooklyn. 123 Park Ave is a three story partially demolished building with three vacant residential units and an occupied deli with a lease ending in April 2020. The seller has plans that were approved in 2015 for an alteration one renovation that would extend and convert the building into eight residential units and ground floor retail. This property is located in the Opportunity Zone around the corner from the Brooklyn Navy Yard where the city is investing over a billion dollars to renovate two million sqft with the goal of creating 10,000 jobs. This project is attracting new tenants such as Wegman s, Wework, and Russ & Daughters. Description Company and Investment Overview Highlights Although all information furnished regarding property for sale, rental or financing is from sources deemed reliable, no express representation is made nor is any implied as to the accuracy thereof and is subject to error, omissions, change of price, rental or other conditions, prior sale, rental or financing or withdrawal without notice. No warranties or representations are made as in the condition of the property of any hazards contained therein nor are any implied.
Property Information Address 123 Park Ave City State Zip Brooklyn, NY 11205 Cross Streets N Oxford St & Cumberland St Neighborhood Fort Greene Block & Lot 02029-0052 Lot Dimensions 19.33 ft x 99.83 ft Lot SF 1,860 Zoning R6 F.A.R. 3.00 (Wide Street) Building Information Building Class Primarily Two Family with One Store or Office (S2) Building Dimensions 19 x 55 Building SF 3,135 Construction type Brick Total Lot FAR 5,580 Unused FAR 2,445 Stories 3 Residential Units 3 Commercial Units 1 Total Units 4 Tax assessor's market value $31,500 Taxes 2018 $3,463 Tax Class 1 Property Company Information Overview
Investment Highlights Asking Price $1,900,000 Buildable SF 5,580 Price/Buildable SF $341 Neighborhood Fort Greene Property Type Mixed-Use Building Currently Layout Stories: 3 Residential Units: 3 Retail Units: 1 Residential Tenancy Status Vacant Residential Retail Tenancy Status Retail leased for $1,846.78/m until Apr 2020 Approved Plans Retail SF Residential Breakdown 5 story 8 units + First Floor Retail 254.8sf 1 st Fl: Unit A: 1BR 514sf + Cellar Duplex with backyard access 2 st Fl:-4 th Fl Unit A: 1BR 465sf + Unit B 1BR 510sf 5th Fl: Unit B: 746sf 3BR Penthouse Investment Company Highlights Overview
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Fort Greene boasts beautiful, well-preserved buildings from the mid-19th century on the tree-lined streets, many of Italianate and Eastlake design. The neighborhood is also home to Atlantic Yards development project, which may bring lots of contemporary housing, retail space and an NBA arena to the community. The 30-acre Fort Greene Park gives the neighborhood recreation space and the Brooklyn Academy of Music provides Fort Greene with worldclass cultural center. The area is conveniently located within easy commuting distance of Manhattan with the MTA [2, 3, 4, 5, 6, B, D, M, N, Q, R, A, C, G] trains. Neighborhood Company Highlights Overview
EMH Commercial Realty was formed with the sole focus of closing commercial transactions in the smoothest and most efficient way possible. The primary focus of our team will be on the Brooklyn NY markets - a marketplace that our brokers have had much historical success. We utilize the latest in cutting edge technology and foster an open team environment to bring much needed market insight that is critical to each deal that comes across our desks. Our experienced team of motivated brokers work diligently with our base of sellers and investors to enhance and facilitate each transaction. That said, EMH is uniquely poised to be your subject matter expert for all your commercial real estate needs. Company Overview Overview
EMH Commercial Realty 109 South 5 th Street Suite 3100 Brooklyn NY 11249 Baruch Edelkopf Desk: (718) 964-9048 Email: baruch@emhcr.com Exclusive Company Agent Contact Overview