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Kingswood Center 1630 E 15th St 229,926 SF 57% Leased Office Building Brooklyn, NY 11229 For Sale
EXECUTIVE SUMMARY
East 15th Street (the “Property”), a block-through asset between Kings
Highway and Avenue P in the heart of Midwood, Brooklyn. Anchored by
T.J. Maxx—supported by an investment-grade parent company—the
Property benefits from exceptional visibility, strong tenancy, and prime
transit access. Located less than 300 feet from the Kings Highway subway
station, the site offers a one-minute walk to the / lines, providing
quick connectivity to Downtown Brooklyn (˜20 minutes) and Midtown
Manhattan (˜35 minutes).
The 226,130 SF structure includes 129,028 SF of commercial space across
three floors and 97,102 SF of below-grade parking. Ceiling heights of 22.5
feet on the ground floor and 18 feet on the second floor support a wide
range of users.
T.J. Maxx occupies 26,644 SF on the ground floor with a lease through
2030 and four (4) five-year extension options. Its parent company, The TJX
Companies, Inc., holds an “A” S&P rating (affirmed March 21, 2025) and an
“A2” Moody’s rating (affirmed June 3, 2025), reinforcing its strength as a
long-term retailer. Elder Serve Health occupies 14,511 SF on the second
floor through November 30, 2029, with two (2) five-year extension options,
adding further stability.
The 257-space parking facility, managed by Impark, generates approximately $40,000 in monthly net income from a mix of permit and transient
parkers and operates efficiently following recent structural upgrades
With sizable vacancy across all three floors, large floor plates, strong
anchors, on-site parking, and immediate transit access, the Property offers
substantial value-add potential. New ownership can enhance income
through targeted lease-up and operational improvements, with a clear
path to stabilizing at approximately $3.6 million in NOI.
PROPERTY FACTS
AMENITIES
- Bus Line
- Metro/Subway
- Signage
- Basement
- Central Heating
- Air Conditioning
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- CONDITION
- AVAILABLE
High-traffic shopping and residential area with excellent access to transportation. Property features 480' of frontage. Parking garage in building with 250+ spaces. 1 block from B/Q Subway at Kings Highway. 1 block from Kingswood Crossing Shopping Center. Potential signage & building name available. Contiguous 82,772 RSF available on 2nd and 3rd floors. Maximum contiguous space available in the building of almost 100k SF.
Contiguous 82,772 RSF available on 2nd and 3rd floors. Maximum contiguous space available in the building of almost 100k SF. Property features 480' of frontage. Parking garage in building with 250+ spaces. 1 block from B/Q Subway at Kings Highway. 1 block from Kingswood Crossing Shopping Center. Potential signage & building name available. Neighboring retail tenant is TJ Maxx
Property features 480' of frontage. Parking garage in building with 250+ spaces. Contiguous 82,772 RSF available on 2nd and 3rd floors. Maximum contiguous space available in the building of almost 100k SF. Potential signage & building name available. Neighboring retail tenant is TJ Maxx.
| Space | Size | Space Use | Condition | Available |
| Ground-Ste 101 | 16,838 SF | Office/Retail | Partial Build-Out | Now |
| 2nd Floor | 3,927-28,429 SF | Office/Medical | Partial Build-Out | Now |
| 3rd Floor | 54,343 SF | Office/Medical | Partial Build-Out | Now |
Ground-Ste 101
| Size |
| 16,838 SF |
| Space Use |
| Office/Retail |
| Condition |
| Partial Build-Out |
| Available |
| Now |
2nd Floor
| Size |
| 3,927-28,429 SF |
| Space Use |
| Office/Medical |
| Condition |
| Partial Build-Out |
| Available |
| Now |
3rd Floor
| Size |
| 54,343 SF |
| Space Use |
| Office/Medical |
| Condition |
| Partial Build-Out |
| Available |
| Now |
Ground-Ste 101
| Size | 16,838 SF |
| Space Use | Office/Retail |
| Condition | Partial Build-Out |
| Available | Now |
High-traffic shopping and residential area with excellent access to transportation. Property features 480' of frontage. Parking garage in building with 250+ spaces. 1 block from B/Q Subway at Kings Highway. 1 block from Kingswood Crossing Shopping Center. Potential signage & building name available. Contiguous 82,772 RSF available on 2nd and 3rd floors. Maximum contiguous space available in the building of almost 100k SF.
2nd Floor
| Size | 3,927-28,429 SF |
| Space Use | Office/Medical |
| Condition | Partial Build-Out |
| Available | Now |
Contiguous 82,772 RSF available on 2nd and 3rd floors. Maximum contiguous space available in the building of almost 100k SF. Property features 480' of frontage. Parking garage in building with 250+ spaces. 1 block from B/Q Subway at Kings Highway. 1 block from Kingswood Crossing Shopping Center. Potential signage & building name available. Neighboring retail tenant is TJ Maxx
3rd Floor
| Size | 54,343 SF |
| Space Use | Office/Medical |
| Condition | Partial Build-Out |
| Available | Now |
Property features 480' of frontage. Parking garage in building with 250+ spaces. Contiguous 82,772 RSF available on 2nd and 3rd floors. Maximum contiguous space available in the building of almost 100k SF. Potential signage & building name available. Neighboring retail tenant is TJ Maxx.
PROPERTY TAXES
| Parcel Number | 06777-0017 | Improvements Assessment | $17,471,700 |
| Land Assessment | $1,116,000 | Total Assessment | $18,587,700 |
PROPERTY TAXES
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Kingswood Center | 1630 E 15th St
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