Mott Avenue / Bay 24th Street
Bay 24th Street, New York, NY, 11691, US
59.044 m²
Objektbeschreibung
Jones Lang LaSalle (“JLL”) has been exclusively engaged to facilitate the sale of 96 N 10th Street (the “Property”) in Williamsburg, Brooklyn. The 2-story Commercial Property is positioned on the south side of N 10th Street, between Wythe Avenue and Berry Street. The 43,458 square-foot structure has fully approved plans for a complete commercial renovation, and will be eligible for a new ICAP Tax Abatement. With significant structural work already completed, potential investors can anticipate 12-15 months to finish the renovation, offering immediate upside. Additionally, the split zoning enables a buyer to develop up to 14,013 BSF of residential space as-of-right, or 18,684 BSF of residential space if utilizing the Inclusionary Housing Bonus. Situated in the heart of North Williamsburg, Brooklyn’s prime live-work-play neighborhood, 96 N 10th Street offers investors a clear, quick path to upside and optionality.
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Eigenschaften
Gebäudefläche brutto
4.037 m²
Grundstücksfläche brutto
1.876 m²
Gebietsabgrenzung
M1-2 / R6A (Split Zoning)
Medien
Investment-Highlights
- Clear/Quick Path to Upside
- Fully approved plans in place - An Investor can anticipate a new ICAP Tax Abatement, and a 12–15-month period to finish the renovation as the current owner has already completed significant structural work.
- Thriving Commercial Market
- As one of the most heavily trafficked and popular commercial markets in all of New York City, North Williamsburg has attracted national and global retailers, gyms, grocers, and Michelin Star restaurants.
- Unparalleled Location
- Situated within a two-block radius of four hotels, The William Vale, The Arlo Williamsburg, The Wythe Hotel, and The Hoxton, 96 N 10th Street is ideally positioned to generate substantial foot traffic along N 10th Street.
- Development Optionality
- The Property’s split zoning presents the unique opportunity for a buyer to develop up to 14,013 BSF of residential space as-of-right, and 18,684 BSF of residential space if utilizing the Inclusionary Housing Bonus.
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96 N 10th Street (0 Objekte)
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Zuletzt aktualisiert
21. Juni 2024
