Press Release brought to you by Cushman & Wakefield Capital Markets Group New York

Massey Knakal Retained Exclusively To Sell The Broadway Bushwick Portfolio - 600 FT Of Retail Frontage - 350,000 Buildable SF

10/07/2014

Massey Knakal Realty Services has been retained on an exclusive basis to sell the Broadway Bushwick Portfolio consisting of three retail properties and three development sites in Brooklyn’s Bushwick neighborhood. The properties are being offered individually or as a package, and ownership is requesting proposals.

The portfolio contains approximately 335,000 buildable square feet and features approximately 600 feet of frontage. The retail portion incorporates 38,100 square feet across three buildings and the development portion consists of approximately 40,000 square feet of vacant land with a maximum buildable potential of 185,000 square feet. Ideally situated in Bushwick, one of the most sought after neighborhoods in New York City, the offering presents one of the few sites of scale available in the neighborhood.

Not only does this opportunity present a buyer with an immediate income stream and great retail upside but each development site will be offered at different phases of construction, allowing for an easy transfer of resources between projects and a strategically segmented delivery to market.  The offering presents a rare opportunity to own on Broadway, one of Bushwick’s prime retail corridors, while recognizing all of the benefits of one of Brooklyn’s most rapidly appreciating neighborhoods.

“This is a remarkable opportunity to own and develop 65% of all north side frontage on Broadway between the Gates Avenue and Halsey Street J/Z subway stations, which both provide direct access to Manhattan in less than 20 minutes,” said Massey Knakal’s Michael Amirkhanian, who is exclusively marketing this property with Stephen P. Palmese.

www.masseyknakal.com

10/07/2014 - 11:28

Source

Cushman & Wakefield Capital Markets Group New York

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