2632 Atlantic Avenue
Brooklyn, New York 11207 United States

$4,000,000
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NEW IMPROVED PRICE! Warren Lewis Sotheby's International has been retained on an exclusive basis to market this great corner building located in Cypress Hills. This Extra Large, 100% occupied building is rented to 2 government agencies. The...
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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
$4,000,000
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Price / Sq. Ft.:
$329
12,168 Sq Ft.
Interior
Commercial
24132CL
Web Id
24132CL
MLS ID
35
days ago

About 2632 Atlantic Avenue

NEW IMPROVED PRICE! Warren Lewis Sotheby's International has been retained on an exclusive basis to market this great corner building located in Cypress Hills. This Extra Large, 100% occupied building is rented to 2 government agencies. The leases will expire in 4-5 years. Both tenants are paying almost twice less than the market dictates today, which gives 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 - 5.4% Potential Income - $330,252 Potential Cap - 8.2% - 9% Lot Size: 4,056 Lot Dimensions: 49.75 ft x 82 ft FAR - 6.02 FAR CF - 7.20 Existing sqft: 12,168 The building has a full-size basement with 10 feet ceilings, all other floors 12-14' . It also features an updated boiler from 2000 - 2001 and 2 gas tank (2000 gallons each), Nextel antenna on the roof that brings $3100 a month that is already included in the income. The additional air rights that the building has are not included in the purchase price!