1264 Myrtle Avenue - Setup.indd
FULLY RENOVATED MIXED-USE BUILDING LOCATED IN THE BROADWAY-MYRTLE AVENUE RETAIL CORRIDOR
1264 Myrtle Avenue Bushwick, Brooklyn, NY PROPERTY INFORMATION: Address:
1264 Myrtle Avenue, Brooklyn, NY 11221 (aka 81 Cedar Street) A blockthrough lot with frontage on the south side of Myrtle Ave and the north side of Cedar St, located between Central Ave and Evergreen Ave 3227 / 33 22.92’ x 57.5’ (Irregular) 22.92’ x 45’ 3
Location: Blocks / Lots: Lot Dimensions: Building Dimensions: Stories: Gross SF Cellar Floor SF: Ground Floor SF: Mezzanine SF: Second Floor SF: Third Floor SF: Total Gross SF: Zoning: Assessment (14/15): Taxes (14/15):
965 (Approx.) 965 (Approx.) 277 (Approx.) 965 (Approx.) 965 (Approx.) 4,087 (Approx.) R6 (C2-3 Commercial Overlay) $11,320 $2,169
PROPERTY DESCRIPTION:
1264 Myrtle Avenue is a fully gut renovated, mixed-use building located within the Broadway-Myrtle retail corridor of Bushwick, Brooklyn. Totaling approximately 4,087 GSF, the building features frontage along both Myrtle Avenue and Cedar Avenue offering great retail exposure. This neighborhood is currently undergoing a renaissance given the combination of abundant public transportation, proximity into Manhattan and easy access to all of the restaurants and night life Bushwick has to offer. The building features a new restaurant/bar tenant on the ground floor totaling approximately 965 SF. In addition, the ceiling heights were razed to include a 277 SF mezzanine level creating a great open space layout. The commercial tenant is scheduled to take occupancy in early spring and is paying $5,000 per month. The second and third floors feature 4-bedroom apartments each leased for $3,400 per month. Given the strong residential rental market, these units can achieve close to $4,000 per month upon renewal in October of this year. The estimated annual gross revenue is $151,300 which nets approximately $130,790 in operating income. Most notably, the building is located on the same block as the Cedar Avenue M Train subway station which provides service directly into Manhattan within under 20 minutes. For more information please contact one of the agents listed below.
ASKING PRICE:
$1 , 990,00 0
EVERGREEN AVE
HART ST
MY RT
LE
AV E
57.5’
3227 33
22.92’
CEDAR ST k
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Michael Amirkhanian
Jonathan Hageman
Elysa Berlin
DJ Johnston
Director of Sales [email protected] 718.606.7073
Sales Team Manager [email protected] 212.696.2500 x7773
Director of Sales [email protected] 212.696.2500 x7764
Associate Director of Sales [email protected] 718.307.6515
n
Chairman [email protected] 212.696.2500 x7777
m
Robert Knakal
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1264 Myrtle Avenue Bushwick, Brooklyn, NY PROPERTY INFORMATION: Address:
1264 Myrtle Avenue, Brooklyn, NY 11221 (aka 81 Cedar Street) A blockthrough lot with frontage on the south side of Myrtle Ave and the north side of Cedar St, located between Central Ave and Evergreen Ave 3227 / 33 22.92’ x 57.5’ (Irregular) 22.92’ x 45’ 3
Location: Blocks / Lots: Lot Dimensions: Building Dimensions: Stories: Gross SF Cellar Floor SF: Ground Floor SF: Mezzanine SF: Second Floor SF: Third Floor SF: Total Gross SF: Zoning: Assessment (14/15): Taxes (14/15):
965 (Approx.) 965 (Approx.) 277 (Approx.) 965 (Approx.) 965 (Approx.) 4,087 (Approx.) R6 (C2-3 Commercial Overlay) $11,320 $2,169
PROPERTY DESCRIPTION:
1264 Myrtle Avenue is a fully gut renovated, mixed-use building located within the Broadway-Myrtle retail corridor of Bushwick, Brooklyn. Totaling approximately 4,087 GSF, the building features frontage along both Myrtle Avenue and Cedar Avenue offering great retail exposure. This neighborhood is currently undergoing a renaissance given the combination of abundant public transportation, proximity into Manhattan and easy access to all of the restaurants and night life Bushwick has to offer. The building features a new restaurant/bar tenant on the ground floor totaling approximately 965 SF. In addition, the ceiling heights were razed to include a 277 SF mezzanine level creating a great open space layout. The commercial tenant is scheduled to take occupancy in early spring and is paying $5,000 per month. The second and third floors feature 4-bedroom apartments each leased for $3,400 per month. Given the strong residential rental market, these units can achieve close to $4,000 per month upon renewal in October of this year. The estimated annual gross revenue is $151,300 which nets approximately $130,790 in operating income. Most notably, the building is located on the same block as the Cedar Avenue M Train subway station which provides service directly into Manhattan within under 20 minutes. For more information please contact one of the agents listed below.
ASKING PRICE:
$1 , 990,00 0
EVERGREEN AVE
HART ST
MY RT
LE
AV E
57.5’
3227 33
22.92’
CEDAR ST k
o
m
p
q
r
m
s
t
n
l
m
u
v
p
s
l
t
l
m
s
t
w
x
r
y
p
s
l
t
z
x
{
r
v
w
r
y
l
t
p
v
y
p
|
}
y
{
o
w
s
~
r
r
t
p
w
Michael Amirkhanian
Jonathan Hageman
Elysa Berlin
DJ Johnston
Director of Sales [email protected] 718.606.7073
Sales Team Manager [email protected] 212.696.2500 x7773
Director of Sales [email protected] 212.696.2500 x7764
Associate Director of Sales [email protected] 718.307.6515
n
Chairman [email protected] 212.696.2500 x7777
m
Robert Knakal
l
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