Fully Renovated Commercial Office Building
573 Sackett Street
Want Ofer to contact you?
I would like to be contacted:
TerraCRG has been retained exclusively to sell 573 Sackett Street – a fully renovated, cash flowing office building in the Gowanus neighborhood of Brooklyn.
Gowanus is one of the most vibrant areas of Brooklyn. Situated in between several established brownstone Brooklyn residential neighborhoods, the area has been a hub of arts, creativity and commercial activity.
The property has recently completed an extensive gut renovation – a core was created which incorporates the lobby, new elevator, fire stairs, and handicap accessible restrooms. The design of a raw industrial style was incorporated throughout, leaving original and new structural elements exposed. The design preserves utilitarian characteristics and materials while providing modern amenities. Also, the ICAP tax abatement application for the property has been filed.
Current tenants include specialty grade coffee roasting company Abbotsford Road, and energy technology company L03 Energy. There is an additional 7,420 SF of vacant rentable space, making the building well-suited for either a user looking to move or expand their business while generating income, or an investor ready to capitalize in the highly desirable Gowanus office market.
Gowanus is a neighborhood that is in the midst of a dramatic transformation. What was once a heavily industrial and warehouse driven neighborhood is now full of converted industrial buildings and new residential developments. Blocks away on 3rd Street & 3rd Avenue, Whole Foods opened a 52,000 SF supermarket in 2013 and is now one of the most active Whole Foods in the country. Down the block on the corner of Sackett & Nevins Streets, Zagat rated restaurant, Freeks Mill, serves up a menu drawing from local farms. The list of notable attractions continues around the corner with Dinosaur Bar-B-Que, Royal Palms Shuffleboard, and Ample Hills Creamery, all on Union Street.
Gowanus is surrounded by some of the most desirable residential neighborhoods – Park Slope, Carroll Gardens and Boerum Hill. One of Brooklyn’s newest and largest residential development projects is in the middle of Gowanus at 363 & 365 Bond Street – a 700 unit residential complex developed by Lightstone. Residential rents in this project and the neighboring Fourth Avenue corridor projects have soared over the past few years to $60+/SF. Condo sales in the vicinity are well above $1,400/SF and townhouse sales in the immediate vicinity have been setting new records.
The property is located just two blocks away from the Union Street R train station, and is just a short distance from the Atlantic Avenue/Barclays Center subway station (4,5,N,Q,R,B,D trains and LIRR). The Atlantic Avenue station has an annual ridership of nearly 14 million making it the station with the highest annual ridership in Brooklyn.