DEVELOPMENT POTENTIAL

The Property holds 14,950 BSF in available air rights which avails itself to a development opportunity of 39,840 BSF.

TAX BENEFITS

The Property benefits from its location within the Brooklyn Industrial Business Zone (IBZ). The Industrial Business Zone (IBZ) Relocation Tax Credit is a one-time tax credit of $1,000 per relocated employee. The tax credit is applied against the business’ City tax liability and cannot exceed the lesser of actual relocation costs or $100,000.

ACCESS

Only a few blocks from the Brooklyn-Queens Expressway, the Property is less than a mile from the Graham Avenue L train and offers outstanding access by car.

DESIRABLE NEIGHBORHOOD

The immediate area is a popular destination for tourists and locals alike with hotels, nationally recognized brand name retailers, and dozens of popular restaurants. The industrial market in Williamsburg continues to tighten as demand increases and supply is converted to alternate uses.