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Featured Listing: Brooklyn Retail Portfolio

7/11/2012 2:05:09 PM/ Massey Knakal/ Listings

Massey Knakal Realty Services has been retained on an exclusive basis to sell four retail buildings in Brooklyn. They are located at 420 86th Street, 502-512 86th Street, 514 86th Street and 526-528 86th Street in the heart of Bay Ridge’s retail corridor.
The two-story commercial building at 420 86th Street, located between 4th and 5th Avenues, is approximately 3,500 square feet. Surrounded by major retailers like T.J. Maxx and Century 21 Department Store, this property is ideal for users looking to expand or relocate an existing business. The building is currently being leased on a month-to-month basis and can be delivered vacant.
The three-story retail building at 502-512 86th Street, located on the southeast corner of 86th Street and 5th Avenue, is approximately 39,000 square feet. The building is currently leased to two tenants: Citi Group and T.J. Maxx. While Citi Group occupies approximately 2,450 square feet on the ground floor and an additional 2,500 square feet on the lower level, T.J. Maxx occupies the remaining space on the ground floor, as well as the second and third floors. The property benefits from a tremendous amount of visibility with 125’ of frontage on 5th Avenue and 100’ of frontage along 86th Street. The location of this building, along with its current tenancy, makes this building one of the most sought after buildings in Brooklyn.
The four-story mixed-use building at 514 86th Street, located between Gelston and 5th Avenues, is approximately 6,300 square feet and consists of four units: two residential and two commercial. The ground floor is currently leased to Starbucks through February 2017. The second floor is a 2,000 square foot commercial unit that can be delivered vacant. The third and fourth floors are residential units, approximately 1,150 square feet each. While the third floor is currently leased until March 31, 2012, the fourth floor unit will be delivered vacant.
The four-story mixed-use building at 526-528 86th Street, located on the southwest corner of 86th Street and Gelston Avenue, is approximately 9,600 square feet. The property has 33’ of frontage along 86th Street, benefiting from tremendous visibility.  The building consists of five units, three commercial and two residential. While the first floor is currently leased to Mothers Work Inc. through May 2014, the second and third floor commercial units can be delivered vacant.

These excellent retail properties can be purchases individually or as a portfolio.  For more information on these properties, please contact Massey Knakal Chairman Bob Knakal at 212.696.2500 or Director of Sales Stephen Palmese at 718.238.8999.

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