The Reel

Follow us:

A blog for breaking sales and neighborhood real estate news.

The subject property is a 52,000 SF, 2-story, elevatored commercial building on the busy block of West 8th Street between the New York Aquarium and the Neptune Avenue subway stations in Coney Island. The neighboring Department of Motor Vehicles and the property’s NYC Department of Human Resources create non-stop pedestrian and automobile traffic.

The property generates nearly $1,100,000 in gross income and with a net income of $856,000 the offering price represents a 9.6% capitalization rate. A savvy investor may see added value in approximately 20,000 SF of air rights the C8-2 zoning allows.

Click here for listing details.

Neighborhoods: Coney Island