TerraCRG has been retained to exclusively market the sale of 1045 Union Street – a mixed-use building located in Crown Heights, between Classon Avenue and Franklin Avenue.
The five-story building is ~ 35K SF and includes 32 residential units and three ground floor retail units. There are 22 large, gut-renovated units that range from one- to four-bedrooms. The property is generating $1,166,416 in gross annual income and an NOI of ~$846,000.
Just off of Eastern Parkway, 1045 Union Street is in the heart of Crown Heights and near some of Brooklyn’s most prized cultural centers. Its prime location is one block from the Franklin Avenue 2, 3, 4, 5, and S train, one block away from Prospect Park and the Brooklyn Museum, and two blocks from the Brooklyn Botanical Gardens. It is also a short distance from 1000 Dean, one of the most sought-after office spaces for creatives in Brooklyn with its own beer and food hall in Berg’n, and several other neighborhood amenities.
The Franklin Avenue retail corridor and surrounding blocks prove very strong, presenting the crème de la crème of bars and restaurants. Some of these include Butter and Scotch (a tenant in the building), Gladys, Union Street Pub, Franklin Park, Domo Taco, The Crown Inn, and The Pulp & The Bean.
