This assemblage 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.
