200 Morgan Ave

For Sale$29,000,000

200 Morgan Ave, Brooklyn, NY 11237

  • Industrial

200 Morgan Ave, Brooklyn, NY 11237 - Industrial Space

200 Morgan Ave is located at 200 Morgan Ave in the Williamsburg neighborhood, NY, Brooklyn, 11237. The Industrial building was completed in 1930 and features a total of 98,880 Sqft.

There are 35 industrial spaces for lease in the Williamsburg neighborhood, totaling 365,330 Sqft of available industrial space. The industrial space availability for the 11237 zip code is 283,330 Sqft, in 12 industrial spaces. The average asking industrial rent per sq. ft. in Williamsburg is $23.31/sqft/year. For Class B industrial buildings the average industrial rate is $20/sqft/year.

In Williamsburg, there are 2 class A industrial buildings, there are 77 class B industrial buildings, there are 28 class C industrial buildings. In 1930, the same year 200 Morgan Ave was built, 66 more commercial properties (office, industrial, retail) over 50,000 square feet were built in Brooklyn, featuring 1,498,530 square feet of commercial space. At zip code level, there are 29 commercial properties, of which 23 are industrial buildings over 50,000 square feet.

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Details

  • Sale Price $29,000,000
  • City Brooklyn
  • Neighborhood Williamsburg
  • Zip Code 11237
  • Property Type Industrial
  • Property Size 98,880 Sqft
  • Lot Size 1.48
  • Year Built 1930
  • Date Updated 30 Oct, 2020

Looking for more in-depth information on this property? Find property characteristics, ownership, tenant details, local market insights and more. Unlock data on CommercialEdge.com.

Description

The Nowak Group of Marcus & Millichap has been retained on an exclusive basis to arrange the sale of 200 Morgan Avenue, a commercial development site in the East Williamsburg section of Brooklyn, NY. The subject site is comprised of five adjacent tax lots on the east side of Morgan Avenue running block through to the English Kills between Johnson Avenue and Grand Street. The property currently consists of several income producing tenants. This feature will allow for developers to enjoy an annual income of approximately $1M while preparing for the eventual development of the parcel. All leases are longstanding tenants with good payment histories and landlord termination clauses to allow for flexibility during planning stages of the project. Combined, the tenants account for approximately 70,000 square feet of building and lot space on the site. The combined lot size is an irregular 221 ft x 489 ft, M3-1 zoned lot (Block: 2942 Lots: 101,207,220,160 & 157). The lot size is 98,880 square feet. Current zoning permits the subject property a total of 197,760 buildable square feet as-of-right. 200 Morgan Avenue is located four blocks away from the Grand Street "L" subway station. The property provides easy access to Manhattan via the Williamsburg and Queensboro Bridges, all three metropolitan airports, as well as easy access to Brooklyn and Queens through the BQE and LIE. 200 Morgan Avenue offers Investors, Users, and Developer the opportunity to purchase a site with over 200 feet of frontage to a high traffic corridor and a strategic location in close proximity to public transportation and highways.

FREQUENTLY ASKED QUESTIONS

What is the total square footage of 200 Morgan Ave?

200 Morgan Ave totals 98,880 square feet.

When was this property built?

200 Morgan Ave was built in 1930.

Williamsburg Demographics

The average household income in zip code 11237 is $73,284, from a total of 17,056 households. In terms of employment, there are 77.97 % white-collar and 22.03 % blue-collar jobs in zip code 11237.

Population

  • Total Population150,810
  • Male Population(49.5 %) 74,724
  • Female Population(50.5 %) 76,086
  • Median Age30.30

Income/Financial

  • Average Household Income$91,311
  • Median Household Income$51,413
  • Median Income Under 25$53,618
  • Median Income 25-44$68,275
  • Median Income 45-64$45,823
  • Median Income Over 65$18,705

Commercial Broker Register now to add listings

Jason Moskowitz

Marcus and Millichap

Associate Real Estate Broker

(718) 475-4387

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