Cushman & Wakefield Retained Exclusively to Sell Mixed-Use Building in Greenpoint
Cushman & Wakefield has been retained on an exclusive basis to sell a mixed-use building at 850 Manhattan Avenue, located between Greenpoint Avenue and Calyer Street in Brooklyn’s Greenpoint Historic District. The asking price is $5,250,000.
The four-story brick building contains approximately 6,020 square feet and sits on a 25.08’ x 99.08’ lot. It consists of an approximately 1,275-square foot retail store on the ground floor and six apartments above, of which four are free market and two are rent stabilized. With over 1,500 square feet of available air rights, the property allows the ability to build out the ground floor along a main commercial strip, further capitalizing on the increased demand for commercial space in the neighborhood.
With the commercial tenant’s expiring lease, this offering provides a great opportunity for an owner-user to open a business on one of the best retail blocks in Brooklyn. The property is located less than a block from the Greenpoint Avenue G train station.
“Considering how dramatically retail rents rose after the Williamsburg waterfront was built, we’re very enthusiastic about the future of Greenpoint’s main retail corridor Manhattan Avenue as 8,000 new waterfront apartments come on line,” said Cushman & Wakefield’s Brendan Maddigan, who is exclusively marketing this property.