61 N 11th Street Setup - Massey Knakal
Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of a commercial property in one of Brooklyn’s most energetic and flourishing neighborhoods - Northside Williamsburg. 61 N 11th Street is a three-story brick building with roughly 41,690 square feet of abovegrade commercial space and an approximately 11,400 SF basement for a grand total of 53,090 SF of useable space. The parcel also features a curb cut along N 12th Street with a wide roll-down gate and a 2,600 SF parking and loading area. The entire building is occupied by a single tenant with a lease expiring in August 2020.
ASKING PRICE:
$43,000,000
Visit 61N11th.com
The flexible M1-2 zoning allows for +/- 43,000 buildable square feet of development rights for office, hotel, retail and light-manufacturing uses. The adjacent rising office project at 25 Kent Avenue – North Brooklyn’s first spec office building in 50 years – holds identical zoning and was recently granted a Special Permit, allowing the developer to build up to 4.80 FAR. Applied to this property, a Special Permit would allow approximately 103,000 buildable square feet.
61 N 11th Street is located within 6 blocks of the G and L trains and the East River Ferry. The property is also situated among iconic tenants like the Brooklyn Bowl, Brooklyn Brewery, Apple Store, Whole Foods and Amazon, as well as neighboring iconic new developments like the Wythe Hotel, the new William Vale Hotel and the Williamsburg Hotel. Paired with virtually unobstructed Manhattan views 2 blocks from the East River, 61 N 11th Street offers an unparalleled opportunity to own an asset in the commercial and cultural epicenter of Williamsburg.
BRICK COMMERCIAL BUILDING WITH DEVELOPMENT POTENTIAL NORTHSIDE WILLIAMSBURG, BROOKLYN
Cushman & Wakefield Copyright 2016. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
Located between Kent and Wythe Avenues, running block-through with frontage on N 12th and N 11th Streets
LOCATION ADDRESS RANGE
61-69 N 11th Street // 84-92 N 12th Street
114.42’ x 200’
LOT DIMENSIONS
Irregular
LOT SIZE
21,492 SF
BUILDING DIMENSIONS
111’ x 200’
Irregular
GROSS BUILDING SIZE
41,690 SF
Above Grade
GROSS BUILDING SIZE
53,090 SF
ZONING
M1-2
COMMERCIAL FAR
2.00
COMMUNITY FACILITY FAR
4.80
DEVELOPMENT RIGHTS
42,984 BSF
POTENTIAL DEVELOPMENT RIGHTS
103,162 BSF $931,950
ASSESSMENT (16/17)
$98,544
TAXES (16/17) Information presented herein is subject to change and should be individually verified. All square footage estimates are approximate.
Total Useable Space
With Community Facility or Special Permit Tax Class 4 Based on 16/17 rate
8
N 12th STREET
9
100.5’
Park
1
(under construction)
2
99.96’
10
3
11
5
6 Bushwick Inlet Park
N 11th STREET
15. 150 N 12th Street 16. 138 N 10th Street 17. 56 N 9th Street 18. The Edge 19. 119 Kent Avenue 20. 149 Kent Avenue 21. Austin Nichols Condos
East River Ferry 21
For further information, please contact exclusive agents:
16
N 9th
N 7th
19
18
N 11th
N 8th
Kent Avenue
8. Mini - A/D/O 9. Adidas 10. Brooklyn Bowl & Brewery 11. Amazon 12. Starbucks 13. Whole Foods 14. Apple
Residential
Highlighted Retail
Commercial
1. 25 Kent Avenue 2. The William Vale Hotel 3. Wythe Hotel 4. McCarren Hotel & Pool 5. Cayuga Capital Offices 6. Williamsburg Hotel 7. Hoxton Hotel
17
East River State Park
HIGHLIGHTED NEIGHBORHOOD DEVELOPMENTS
15 4
N 10th 7
12
20
Wythe Avenue
114.42’
N 12th
N 6th
13
Bedford Avenue
13.92’
Berry Street
200’
KENT AVENUE
13
WYTHE AVENUE
100’
2288
McCarren Park
Guthrie Garvin
Brendan Maddigan
Ethan Stanton
Michael Gembecki
212 660 7786
718 307 6507
718 307 6553
212 660 7743
Senior Managing Director
Senior Managing Director
[email protected] [email protected]
Associate Director
14
Director
[email protected] [email protected]
Cushman & Wakefield Copyright 2016. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
ASKING PRICE:
$43,000,000
Visit 61N11th.com
The flexible M1-2 zoning allows for +/- 43,000 buildable square feet of development rights for office, hotel, retail and light-manufacturing uses. The adjacent rising office project at 25 Kent Avenue – North Brooklyn’s first spec office building in 50 years – holds identical zoning and was recently granted a Special Permit, allowing the developer to build up to 4.80 FAR. Applied to this property, a Special Permit would allow approximately 103,000 buildable square feet.
61 N 11th Street is located within 6 blocks of the G and L trains and the East River Ferry. The property is also situated among iconic tenants like the Brooklyn Bowl, Brooklyn Brewery, Apple Store, Whole Foods and Amazon, as well as neighboring iconic new developments like the Wythe Hotel, the new William Vale Hotel and the Williamsburg Hotel. Paired with virtually unobstructed Manhattan views 2 blocks from the East River, 61 N 11th Street offers an unparalleled opportunity to own an asset in the commercial and cultural epicenter of Williamsburg.
BRICK COMMERCIAL BUILDING WITH DEVELOPMENT POTENTIAL NORTHSIDE WILLIAMSBURG, BROOKLYN
Cushman & Wakefield Copyright 2016. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
Located between Kent and Wythe Avenues, running block-through with frontage on N 12th and N 11th Streets
LOCATION ADDRESS RANGE
61-69 N 11th Street // 84-92 N 12th Street
114.42’ x 200’
LOT DIMENSIONS
Irregular
LOT SIZE
21,492 SF
BUILDING DIMENSIONS
111’ x 200’
Irregular
GROSS BUILDING SIZE
41,690 SF
Above Grade
GROSS BUILDING SIZE
53,090 SF
ZONING
M1-2
COMMERCIAL FAR
2.00
COMMUNITY FACILITY FAR
4.80
DEVELOPMENT RIGHTS
42,984 BSF
POTENTIAL DEVELOPMENT RIGHTS
103,162 BSF $931,950
ASSESSMENT (16/17)
$98,544
TAXES (16/17) Information presented herein is subject to change and should be individually verified. All square footage estimates are approximate.
Total Useable Space
With Community Facility or Special Permit Tax Class 4 Based on 16/17 rate
8
N 12th STREET
9
100.5’
Park
1
(under construction)
2
99.96’
10
3
11
5
6 Bushwick Inlet Park
N 11th STREET
15. 150 N 12th Street 16. 138 N 10th Street 17. 56 N 9th Street 18. The Edge 19. 119 Kent Avenue 20. 149 Kent Avenue 21. Austin Nichols Condos
East River Ferry 21
For further information, please contact exclusive agents:
16
N 9th
N 7th
19
18
N 11th
N 8th
Kent Avenue
8. Mini - A/D/O 9. Adidas 10. Brooklyn Bowl & Brewery 11. Amazon 12. Starbucks 13. Whole Foods 14. Apple
Residential
Highlighted Retail
Commercial
1. 25 Kent Avenue 2. The William Vale Hotel 3. Wythe Hotel 4. McCarren Hotel & Pool 5. Cayuga Capital Offices 6. Williamsburg Hotel 7. Hoxton Hotel
17
East River State Park
HIGHLIGHTED NEIGHBORHOOD DEVELOPMENTS
15 4
N 10th 7
12
20
Wythe Avenue
114.42’
N 12th
N 6th
13
Bedford Avenue
13.92’
Berry Street
200’
KENT AVENUE
13
WYTHE AVENUE
100’
2288
McCarren Park
Guthrie Garvin
Brendan Maddigan
Ethan Stanton
Michael Gembecki
212 660 7786
718 307 6507
718 307 6553
212 660 7743
Senior Managing Director
Senior Managing Director
[email protected] [email protected]
Associate Director
14
Director
[email protected] [email protected]
Cushman & Wakefield Copyright 2016. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
