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Kingswood Center 1630 E 15th St 226,130 SF Office Building Brooklyn, NY 11229 For Sale
Investment Highlights
- Immediate repositioning opportunity
- Operational parking
- Anchored by top tier credit
- Unparalleled connectivity
Executive Summary
Jones Lang LaSalle (“JLL”) has been exclusively retained to market 1630
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.
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
Sale Type
Investment
Property Type
Office
Building Size
226,130 SF
Building Class
A
Year Built/Renovated
2007/2019
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
75,377 SF
Building FAR
4.71
Lot Size
1.10 AC
Zoning
C4-4A / R7A
Parking
257 Spaces (1.14 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Metro/Subway
- Signage
- Basement
- Central Heating
- Air Conditioning
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Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 06777-0017 | Improvements Assessment | $17,471,700 |
| Land Assessment | $1,116,000 | Total Assessment | $18,587,700 |
Property Taxes
Parcel Number
06777-0017
Land Assessment
$1,116,000
Improvements Assessment
$17,471,700
Total Assessment
$18,587,700
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Kingswood Center | 1630 E 15th St
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