318 Knickerbocker Ave - Apartments CONDO FOR SALE


Brooklyn, NY 11237- Bushwick
$11,900,000 USD
718-663-2643
318 Knickerbocker Ave, Brooklyn, NY for Sale
$11,900,000 USD
Apartments CONDO - FOR SALE
1/9
null | Request Cap Rate

NEW


318 Knickerbocker Ave
Brooklyn, NY 11237
Bushwick


OVERVIEW

PRIME BUSHWICK RETAIL CORRIDOR Positioned on Knickerbocker Avenue — a high-visibility, high-foot-traffic corridor in the heart of Bushwick — surrounded by a dynamic mix of national retailers and local businesses. VALUE-ADD RETAIL OPP ORTUNIT Y Two of the five retail units are currently vacant, presenting an attractive opportunity for a purchaser to capture upside through immediate lease-up or to occupy the space for their own use. ICIP ABATEMENT The Assemblage benefits from a 25-year ICIP Tax Abatement which is due to expire in 2038 SERVICE ORIENTED & TRADITIONAL RETAIL TENANCY MIX Current tenants include Oak Street Health [acquired by CVS in 2023], which operates as a primary healthcare facility for the elderly, along with a laundromat and a clothing retailer serving the local community. EXCELLENT TRANSIT ACCESSIBILIT Y Located within short blocks from the L and M subway lines, providing quick access to Manhattan and other parts of Brooklyn — a key driver of both residential and retail demand. STRONG DEMOGRAPHICS & DEMAND DRIVERS Located in one of Brooklyn’s fastest-evolving neighborhoods, fueled by a growing population of young professionals, artists, and creatives. Recent years showed a strong increase in residential demand with median gross rents exceeding a 68% increase from 2006 to 2023 - higher than the city average.

FOR SALE DETAILS

PRICE

$11,900,000 USD

PRICE/SF

$545 USD /SF

CAP RATE

Request Cap Rate

# OF UNITS

1

CONDO SIZE

-

% LEASED

-

TENANCY

-

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

The Knick Bushwick

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

42,390 SF

STORIES

4

BUILDING CLASS

B

YEAR BUILT

1931

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.34 AC

LAND SF

14,810 SF

ZONING

R6

APN/PARCEL ID

03235-1203,03235-1232,03235-7503

ASK ABOUT THIS PROPERTY

Andreas EfthymiouRipco Real EstateMore Info
718-663-2643

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Andreas EfthymiouRipco Real EstateMore Info
718-663-2643

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.