253 - 257 Kent Street & 248-250 Java Street

For Sale$5,000,000

257 Kent Street, Brooklyn, NY 11222

  • Industrial

253 - 257 Kent Street & 248-250 Java Street, Brooklyn, NY 11222 - Industrial Space

253 - 257 Kent Street & 248-250 Java Street is located at 257 Kent Street in the Greenpoint neighborhood, NY, Brooklyn, 11222. The Industrial building features a total of 12,500 Sqft.

There are 19 industrial spaces for lease in the Greenpoint neighborhood, totaling 252,000 Sqft of available industrial space. The industrial space availability for the 11222 zip code is 320,200 Sqft, in 20 industrial spaces. The average asking industrial rent per sq. ft. in Greenpoint is $32.41/sqft/year. For Class B industrial buildings the average industrial rate is $55/sqft/year.

In Greenpoint, there are 4 class A industrial buildings, there are 36 class B industrial buildings, there are 7 class C industrial buildings. At zip code level, there are 33 commercial properties, of which 25 are industrial buildings over 50,000 square feet.

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Details

  • Sale Price $5,000,000
  • City Brooklyn
  • Neighborhood Greenpoint
  • Zip Code 11222
  • Property Type Industrial
  • Property Size 12,500 Sqft
  • Date Updated 05 Feb, 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

Marcus & Millichap has been exclusively retained to execute the sale of 253-257 Kent Street and 248-250 Java Street, Brooklyn, NY 11222. This asemblage consists of five (5) contiguous tax lots located between Provost Street and McGuinness Boulevard in the Greenpoint section of Brooklyn, NY. The property runs block through between Kent Street and Java Street. The existing buildings consist of 7,500 square feet of ground floor warehouse, with another 7,500 square feet of mezzanine space. There is also an ample parking lot, measuring approximately 4,000 square feet.The property is zoned M3-1 and is located in The Northern Brooklyn IBZ, and under the city’s Industrial Innovation Plan is scheduled to receive a significant boost to the amount of buildable square feet allowed. Currently, this property has the potential to house 25,000 square feet as of right. The property is ideally located three blocks from the Greenpoint Avenue “G” subway station, one half mile from The Pulaski Bridge, and approximately one mile from the Morgan Ave exit of the BQE. As a result of this phenomenal location, investors, users, and developers alike have the opportunity to purchase five contiguous lots with additional building rights in close proximity to all major thoroughfares and easy access to Manhattan, Queens, Long Island, and New Jersey. Commercial rents in the thriving Greenpoint neighborhood continue to rise and property values remain strong. Upside potential for investors exists in the opportunity to grow the rent roll through the vacant building, current air rights, and the potential for increased air rights. The property is located within the North Brooklyn Industrial Business Zone, which falls within the Core Area of NYC’s Industrial Innovation Plan. Anticipated zoning changes include increased FAR and easing of parking requirements and building height restrictions.

FREQUENTLY ASKED QUESTIONS

What is the total square footage of 253 - 257 Kent Street & 248-250 Java Street?

253 - 257 Kent Street & 248-250 Java Street totals 12,500 square feet.

Greenpoint Demographics

The average household income in zip code 11222 is $106,860, from a total of 17,256 households. In terms of employment, there are 90.52 % white-collar and 9.48 % blue-collar jobs in zip code 11222.

Population

  • Total Population36,492
  • Male Population(49.3 %) 18,000
  • Female Population(50.7 %) 18,492
  • Median Age34.80

Income/Financial

  • Average Household Income$106,860
  • Median Household Income$85,111
  • Median Income Under 25$54,453
  • Median Income 25-44$110,363
  • Median Income 45-64$62,303
  • Median Income Over 65$25,560

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Jason Moskowitz

Marcus and Millichap

Associate Real Estate Broker

(718) 475-4387

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