1610 Dekalb Avenue Brooklyn, Ny 11237

1610 DEKALB AVENUE BROOKLYN, NY 11237

~17,000 SF NNN LEASED // COMMERCIAL CONDOMINIUM

ASKING PRICE: $6,499,000 • CAP RATE: 6.25%

HIGHLIGHTS: AREA AMENITIES: • NNN leased to Wyckoff Heights Medical • Conveniently located next to L train Center until December 31, 2023 • One block away from Wyckoff Heights • 6.25% Cap Rate: NOI - $405,548 Medical Center • 3% Annual increases • Easy accessibility throughout Brooklyn • Tenant has one (1) five (5) year option to and to Queens and Manhattan renew the lease • High vehicular and pedestrian traffic. • ICIP Tax Abatement • Undergoing Bushwick rezoning ensures • Potential to convert the space to a long term growth potential for the residential use. neighborhood.

©2020 Cushman & Wakefield. All rights reserved. The information contained in this communication is strictly confidential. This information has been obtained from sources believed to be reliable but has not been verified. NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE CONDITION OF THE PROPERTY (OR PROPERTIES) REFERENCED HEREIN OR AS TO THE ACCURACY OR COMPLETENESS OF THE INFORMATION CONTAINED HEREIN, AND SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, WITHDRAWAL WITHOUT NOTICE, AND TO ANY SPECIAL LISTING CONDITIONS IMPOSED BY THE PROPERTY OWNER(S). ANY PROJECTIONS, OPINIONS OR ESTIMATES ARE SUBJECT TO UNCERTAINTY AND DO NOT SIGNIFY CURRENT OR FUTURE PROPERTY PERFORMANCE. 1610 DEKALB AVENUE BROOKLYN, NY 11237

PROPERTY DESCRIPTION

Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of the commercial condominium unit located at 1610 Dekalb Avenue. This three-level, approximately 17,000 square foot unit is located in the base of a condominium building built in 2005. There are 15 residential condominium units located above the commercial unit. The commercial space is occupied by Wykoff Heights Medical Center.

The condominium is made up of approx. 3,855 square foot lower level, approx. 5,353 square foot ground level, and approx. 7,774 square feet on the second floor. All three floors are connected by elevator and stairwell and is fully equipped with florescent lighting, drop ceilings, tile flooring, multiple ADA restrooms, and central HVAC. Additionally, the space is fully sprinklered and fire alarmed.

Wykoff Heights Medical Center has leased the space under a NNN agreement since January 2014 for a ten year term. The term has one five-year extension option. The hospital owns a large block through primary building adjacent to 1610 Dekalb, and uses this leased space as additional care for patient treatment, which is high in demand. The site is located on a prime block in Bushwick, 1610 Dekalb Avenue is just steps away from the L train at Dekalb Avenue and Wyckoff Avenue.

Moreover, the investment offering provides an ICIP tax abatement that expires in the year 2032, and a lease that is NNN at a 6.25% cap rate at the asking price. The space can be repurposed for other community facility use or converted to residential as well.

BROOKLYN, NY 11237~17,000 SF NNN LEASED // PROFESSIONAL CONDOMINIUM FOR SALE v 1610 DEKALB AVENUE BUILDING FEATURES Brooklyn, NY 11237 ASKING PRICE: $7,000,000 $6,499,000

BLOCK / LOT 3248 / 1001

LOT DIMENSIONS: 75’ X 100’ (APPROX.) (IRREG.)

LOT SIZE: 8,260 SQ. FT. (APPROX.)

BUILDING DIMENSIONS: 75’ X 100’ (APPROX.) (IRREG.)

STORIES: 2 PLUS BASEMENT & TERRACE

BASEMENT SPACE: 3,855 SQ. FT. (APPROX.)

GROUND FLOOR: 5,353 SQ. FT. (APPROX.)

SECOND FLOOR: 7,774 SQ. FT. (APPROX.)

TOTAL SQUARE FOOTAGE: 16,982 SQ. FT. (APPROX.) TERRACE SPACE: 1,111 SQ. FT. (APPROX.) L ZONING: R6

ASSESSMENT (20/21): $871,650

ICIP EXEMPTION AMOUNT: -$762,662

TAXABLE VALUE: $108,988

TAXES (20/21): $11,484

For more information, please contact: Highlights Area Amenities • NNN leased to Wyckoff Heights Medical • Conveniently located next to train Alex Svetlakou Jeffrey A. Shalom Center until December 31, 2023 212 318 9769 718 307 6558 • One block away from Wyckoff Heights [email protected] PLAN [email protected] • 6.25% Cap Rate: NOI - $405,548 Medical Center Brett Weisblum • 3% Annual increases • Easy accessibility throughout Brooklyn and to Queens and Manhattan (212) 660-7784 • Tenant has one (1) five (5) year option to [email protected] renew the lease • High vehicular and pedestrian traffic. ©2018 Cushman & Wakefield. All rights reserved. The information contained in this communication is strictly confidential. This information has been obtained from sources believed to be reliable but has not been verified. No warranty or representation, express or implied, is made as to • ICIP Tax Abatement • Undergoing Bushwick rezoning ensures the condition of the property (or properties) referenced herein or as to the accuracy or completeness of the information contained herein, and a long term growth potential for the same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing • Potential to convert the space to conditions imposed by the property owner(s). Any projections, opinions or estimates are subject to uncertainty and do not signify current or neighborhood. future property performance. residential use. cushmanwakefield.com

LOCATION MAP

1610 DEKALB AVENUE BROOKLYN, NY 11237

FOR MORE INFORMATION, PLEASE CONTACT:

BRETT WEISBLUM ALEX SVETLAKOU 212 660 7784 212 318 9769 CUSHMAN & WAKEFIELD [email protected] [email protected] One Pierrepont Plaza 9th Floor Brooklyn, NY 11201 MIKE NEMIROVSKY JEFFREY A. SHALOM www.cushmanwakefield.com 212 660 7763 718 307 6558 [email protected] [email protected]