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Box Factory 1519 Decatur St 88,174 SF 94% Leased Office Building Ridgewood, NY 11385 For Sale
Investment Highlights
- Twenty-three (23) Unique Tenants
- Complete Property Renovation in 2017 with further upgrades recently
- 370' of Wrap-around Frontage
- 62,851 NRSF of Commercial, Office, and Creative Space
- ADA Accessibility
- 25-Year ICAP tax abatement expiring in 2046
Executive Summary
Future Development Potential: The building showcases restored industrial character with modern upgrades, including high ceilings (12 ft- 18 ft), oversized windows, updated mechanicals, and ADA accessibility. Situated on the border of Ridgewood and Bushwick, Box Factory benefits from exceptional connectivity with the Halsey Street L train two blocks East, as well as "J" and "M" trains nearby. Ridgewood is one of the City's largest rental growth markets in recent years, and there is very little large-scale development ongoing. This bodes well for future rezoning opportunities and capturing the upside of this high-growth submarket. With train and bus access and very little nearby development, the site is a prime candidate for ULURP. Comparable rezonings to a 5.01 FAR would result in a substantial increase in property value. A conservative market price per buildable square foot ($180) would equate to ~$27 million if awarded a 5.01 FAR.
Property Facts
Amenities
- High Ceilings
- Outdoor Seating
- Air Conditioning
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Educational Services
- -
- -
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Lorem Ipsum
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Jan 0000
Grand Central Atelier (GCA) sprang from a group of visionary artists who gathered in Jacob Collins’ studio in the 1990’s. Collectively, they worked out an aesthetic sensibility and method rooted in the Renaissance tradition. This training caught momentum and in 2014, GCA became an independent, not-for-profit (501c3) organization. Over these decades, they have built an international reputation as the premiere destination for ambitious artists seeking an authentic classical art education. To support this rising generation of working artists, they have established a resident artist program and a gallery. This year, over 500 students will pass through their studios, and 50 will study in their highly selective four-year Core Program. Under the leadership of Jacob Collins and the guidance of a faculty of dedicated artists, this program has consistently produced the world’s most skilled contemporary realist painters, draftsmen and sculptors.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Educational Services | - | - | Lorem Ipsum | Jan 0000 |
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
A fully renovated 2-story commercial building — Ridgewood's creative destination featuring: - New oversized windows, bathrooms and common area - High ceilings ranging 12'-18' - Outdoor space with tables and seating, a bike room - On-site music rehearsal, studio, and recording rooms - ADA accessible - Located 2 blocks from L-train Halsey Street station
Located in a fully renovated 2-story commercial building — Ridgewood's creative destination featuring: - New oversized windows, bathrooms and common area - High ceilings ranging 12'-18' - Outdoor space with tables and seating, a bike room - On-site music rehearsal, studio, and recording rooms - ADA accessible - Located 2 blocks from L-train Halsey Street station
This is a ground floor unit, the entrance being either through the main lobby of the building or through a door connecting this unit directly to the courtyard. Currently set up as 3 rooms with very tall ceilings and white painted brick walls. This used to be a factory building, so there are old metal fire doors hanging on some of the walls. We have a very competitive asking price and hope to find a tenant with the creative vision to do this unique space justice. Could even be set up as a bar or lounge for the right tenant. Located in a fully renovated 2-story commercial building — Ridgewood's creative destination featuring: - New oversized windows, bathrooms and common area - High ceilings ranging 12'-18' - Outdoor space with tables and seating, a bike room - On-site music rehearsal, studio, and recording rooms - ADA accessible - Located 2 blocks from L-train Halsey Street station
| Space | Size | Space Use | Build-Out | Available |
| 1st Fl-Ste 105 | 2,203 SF | Office | Full Build-Out | Now |
| 1st Fl-Ste 108E | 313 SF | Office | Shell Space | Now |
| 1st Fl-Ste 202B | 2,869 SF | Office | Shell Space | Now |
1st Fl-Ste 105
| Size |
| 2,203 SF |
| Space Use |
| Office |
| Build-Out |
| Full Build-Out |
| Available |
| Now |
1st Fl-Ste 108E
| Size |
| 313 SF |
| Space Use |
| Office |
| Build-Out |
| Shell Space |
| Available |
| Now |
1st Fl-Ste 202B
| Size |
| 2,869 SF |
| Space Use |
| Office |
| Build-Out |
| Shell Space |
| Available |
| Now |
1st Fl-Ste 105
| Size | 2,203 SF |
| Space Use | Office |
| Build-Out | Full Build-Out |
| Available | Now |
A fully renovated 2-story commercial building — Ridgewood's creative destination featuring: - New oversized windows, bathrooms and common area - High ceilings ranging 12'-18' - Outdoor space with tables and seating, a bike room - On-site music rehearsal, studio, and recording rooms - ADA accessible - Located 2 blocks from L-train Halsey Street station
1st Fl-Ste 108E
| Size | 313 SF |
| Space Use | Office |
| Build-Out | Shell Space |
| Available | Now |
Located in a fully renovated 2-story commercial building — Ridgewood's creative destination featuring: - New oversized windows, bathrooms and common area - High ceilings ranging 12'-18' - Outdoor space with tables and seating, a bike room - On-site music rehearsal, studio, and recording rooms - ADA accessible - Located 2 blocks from L-train Halsey Street station
1st Fl-Ste 202B
| Size | 2,869 SF |
| Space Use | Office |
| Build-Out | Shell Space |
| Available | Now |
This is a ground floor unit, the entrance being either through the main lobby of the building or through a door connecting this unit directly to the courtyard. Currently set up as 3 rooms with very tall ceilings and white painted brick walls. This used to be a factory building, so there are old metal fire doors hanging on some of the walls. We have a very competitive asking price and hope to find a tenant with the creative vision to do this unique space justice. Could even be set up as a bar or lounge for the right tenant. Located in a fully renovated 2-story commercial building — Ridgewood's creative destination featuring: - New oversized windows, bathrooms and common area - High ceilings ranging 12'-18' - Outdoor space with tables and seating, a bike room - On-site music rehearsal, studio, and recording rooms - ADA accessible - Located 2 blocks from L-train Halsey Street station
Property Taxes
| Parcel Number | 03541-0001 | Improvements Assessment | $4,924,740 |
| Land Assessment | $819,450 | Total Assessment | $5,744,190 |
Property Taxes
Contacts
-
Dylan Walsh -
Jeremy Stern -
Nick Kolbus -
Kieran Baker -
Charles Everett -
Mitch Arkin -
Josh Neustadter -
Cushman & Wakefield
Presented by
Box Factory | 1519 Decatur St
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