212-376-4002
1630 E 15th St, Brooklyn, NY for Sale
Office - FOR SALE
1/11
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1630 E 15th St
Brooklyn, NY 11229
Homecrest


OVERVIEW

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.

FOR SALE DETAILS

PRICE

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CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Kingswood Center

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

B

YEAR BUILT

2007

SPRINKLERS

-

PARKING SPACES

250

LAND DETAILS

LAND ACRES

1.11 AC

LAND SF

48,398 SF

ZONING

C4-4A

APN/PARCEL ID

06777-0017

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212-376-4002

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212-376-4002

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