1010-1012 G A T E S A V E N U E B R O O K L Y N, N Y
C O N F I D E N T I A L I T Y & C O N D I T I O N S NKF Capital Markets, a division of Newmark & Company Real Estate Inc. d/b/a Newmark Knight Frank ( Agent ) has been retained as an exclusive broker for the sale of 1010-1012 Gates Avenue, Brooklyn, NY 11221 (the Property ) on behalf of Neighborhood Housing Services of New York City, Inc. ( Seller ). This Memorandum has been prepared by Agent for use by a limited number of parties, and does not purport to provide a necessarily accurate summary of the Property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information which prospective investors may need or desire. All projections have been development by Seller and Agent, and designated sources, and are based upon assumptions relating to the general economy, competition and other factors beyond the control of Seller, and therefore are subject to variation. No representation is made by Seller or Agent as to the accuracy or completeness of the information contained herein, and nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of the Property. Although the information contained herein is believed to be correct, Seller, Seller s agents, attorneys, representatives, and its employees, disclaim any responsibility for inaccuracies, and expect prospective purchasers to exercise independent due diligence in verifying all such information. Further, Agent, Seller and their respective employees, disclaim any and all liability for representations and warranties, expressed and implied, contained in, or for omission from, this Memorandum, or any other written or oral communication transmitted or made available to the recipient. The Memorandum does not constitute a representation that the business or affairs of the Property or Seller since the of preparation (10/17) of this Memorandum have remained the same. Analysis and verification of the information contained in the Memorandum are solely the responsibility of the prospective purchaser. Additional information and an opportunity to inspect the Property will be made available upon the written request of interested and qualified prospective purchasers. Seller and Agent each expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers regarding the Property, and/or terminate discussions with any party at any time with or without notice. Seller reserves the right to change the timing and procedures for the Offering process at any time in Seller s sole discretion. Seller shall have no legal commitment or obligations to any party reviewing this Memorandum, or making an offer to purchase the Property, unless and until such offer is approved by Seller, a written agreement for the purchase of the Property has been fully executed and delivered by Seller and the Purchaser thereunder. This Memorandum and the contents, except such information which is a matter of public record or is provided in sources available to the public, are of confidential nature. By accepting this Memorandum, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose this Memorandum or any of the contents to any other entity (except to outside advisors retained by you, if necessary, for your determination of whether or not to make a proposal and from whom you have obtained an agreement of confidentiality) without the prior written authorization of Seller or Agent, and that you will not use this Memorandum or any of the contents in any fashion or manner detrimental to the interest of Seller or Agent.
E X E C U T I V E S U M M A R Y Newmark Knight Frank has been retained by Neighborhood Housing Services of New York City, Inc. on an exclusive basis to arrange for the sale of a prime conversion and development site located at 1010-1012 Gates Avenue on the border of Bushwick and Bedford Stuyvesant, Brooklyn. With a classic brick façade and forty feet of frontage along Gates Avenue, the current brick structure is built approximately 5,800 square feet on two floors on a footprint of approximately 3,800 SF. The C4-4L zoning designation permits a total of 15,200 buildable SF, allowing for an additional 9,400 SF of developable air rights on the parcel with a wide variety of uses from residential to commercial and community facility. Located on the border the Brooklyn neighborhoods of Bushwick and Bedford Stuyvesant, 1010-1012 Gates Avenue is at the center of two neighborhoods that have seen a booming residential population growth with plenty of infrastructure in the form of restaurants, coffee shops, night clubs, bars as well as chain drugstores, grocery stores and other shops to cater to the neighborhoods day-to-day needs. Being steps away from the J, M and Z subway station means that travel to anywhere in the city is easy and quick, making residents not only immune to the looming L train interruptions but making this a more desirable location for a rental or condominium development. S. David Behin, Esq. Executive Managing Director david.behin@ngkf.com 212.372.2075 Michael Holz Associate michael.holz@ngkf.com 212.372.0706
P R O P E R T Y O V E R V I E W PROPERTY OVERVIEW ADDRESS RANGE: 1010-1012 GATES AVENUE, BROOKLYN, NY 11221 BLOCK: 1480 LOT: 17 LOT DIMENSIONS: FRONTAGE: 40 DEPTH: 100 (IRREGULAR)* LOT SIZE: 3,800 SF* ZONING: C4-4L BUILDING OVERVIEW BUILDING DIMENSIONS: FRONTAGE: 40 DEPTH: 90 * BUILDING SIZE: 5,800 SF* STORIES: 2 RESIDENTIAL FAR: 4 BUILDABLE SF: 15,200* COMMUNITY FACILITY FAR: 4 BUILDABLE SF: 15,200* COMMERCIAL: 4 BUILDABLE SF: 15,200* * approximate S. David Behin, Esq. Executive Managing Director david.behin@ngkf.com 212.372.2075 Michael Holz Associate michael.holz@ngkf.com 212.372.0706
New York City HEADQUARTERS 125 Park Avenue New York, NY 10017 Brooklyn 55 Prospect Street Brooklyn, NY 11201 S. David Behin, Esq. Executive Managing Director 212.372.2075 david.behin@ngkf.com Michael Holz Associate 212.372.0706 michael.holz@ngkf.com North America Canada United States Europe Austria Belgium Czech Republic France Germany Ireland Italy Netherlands Poland Portugal Romania Russia Spain Switzerland United Kingdom Latin America Argentina Brazil Chile Colombia Mexico Peru Puerto Rico Asia-Pacific Australia Cambodia China Hong Kong India Indonesia Japan Malaysia New Zealand Singapore South Korea Taiwan Thailand Africa Botswana Kenya Malawi Nigeria South Africa Tanzania Uganda Zambia Zimbabwe Middle East Saudi Arabia United Arab Emirates