2632 Atlantic Avenue / 100 Pennsylvania Avenue

2632 Atlantic Avenue / 100 Pennsylvania Avenue
2632 Atlantic Avenue Brooklyn, New York 11207 United States

$4,990,000
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Warren Lewis Sotheby's International has been retained on an exclusive basis to market this great corner commercial building located in Cypress Hills. This extra large, fully occupied building leases to 2 government agencies. The leases will...
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Warren Lewis Sotheby's International Realty

Omar Casado
Licensed Real Estate Salesperson
Phone: +1 718.747.8220
Phone: +1 718.638.6500
299 Bedford Avenue
Brooklyn, New York 11211 United States
David Ratner
Licensed Real Estate Salesperson
Phone: +1 718.747.8215
Phone: +1 718.638.6500
299 Bedford Avenue
Brooklyn, New York 11211 United States
$4,990,000
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Price / Sq. Ft.:
$410 /
12,168 Sq Ft.
Interior
Commercial
24132CL
Web Id
24132CL
MLS ID
New York City Department Of Education
School District
151
days ago

About 2632 Atlantic Avenue

Warren Lewis Sotheby's International has been retained on an exclusive basis to market this great corner commercial building located in Cypress Hills. This extra large, fully occupied building leases to 2 government agencies. The leases will expire in 4-5 years. Both tenants are paying well under current market rates, which give a tremendous value-add opportunity to the new owner! [[ Gross Income: $270,200; Taxes: $71,420 (Tenant's Contribution - $46,420, Owner's Portion - $25,000); Expenses: $28,040; NOI: $217,000; Current Cap: 4.3%; Potential Income: $330,252; Potential Cap: over 7%; Lot Size: 4,056; Lot Dimensions: 49.75 ft x 82 ft; FAR (Residential): 6.02; FAR (Residential w/ Inclusionary Housing): 7.2; FAR (Community Facility): 6.5; FAR (Commercial): 3.5; Existing Building sqft: 12,168; UNUSED/ADDITIONAL Buildable Air Rights: 17,035 sqft of air rights. ]] The building has a full-size basement with over 9-foot high ceilings, all other floors 12-14' ceilings. Boiler (2x 2000 gal. oil tanks) installed in 2001. Nextel (antennas) leases roof for $3100 (included in income). Located on the very high volume intersection of Pennsylvania & Atlantic Avenues. Contact me today for more details.

Property Information

Key Features
Elevator;Central A/C;