Closed

Vacant Three-Unit Building in Prime Bed-Stuy

320 Tompkins Avenue

Bed-Stuy/Ocean Hill

Closed at

3 Residential Units
2,794 Gross SF
3 Stories
Cross Streets Monroe Street & Gates Avenue
Subways
a
c
Multifamily 320 Tompkins Avenue, Bed-Stuy/Ocean Hill
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Matthew Cosentino
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Details

Block 1814
Lot 32
Lot Size 20 ft x 80 ft
Building Class C0
Zoning R6A/C2-4
FAR 3
Total Buildable SF 4800
Air Rights 2006

Overview

TerraCRG has been retained to exclusively represent ownership in the sale of the multifamily building at 320 Tompkins Avenue in the Bedford-Stuyvesant section of Brooklyn.

The building is located between Monroe Street and Gates Avenue, within close proximity to the A and C trains at the Nostrand Avenue and Kingston-Throop stations.

The vacant brick three-unit property is approximately 2,800 SF with over 2,000 SF of additional air rights. The property needs a full renovation and there are a number of potential renovation options, all of which will allow the new owner to generate very strong returns. One option is the property can remain a three-story property with 1 three-bedroom unit, 1 two-bedroom unit and a ground floor duplex unit. This layout would generate approximately $100,000/year in gross revenue. Another option is the 2,000 SF of air rights can be used to expand the property to create a 4.5 story, ~4,800 SF property that would generate approximately $140,000/year in gross revenue.

The property allows access into Manhattan and Downtown Brooklyn within 20 minutes.

Attractions

The building is located in a premier Bedford-Stuyvesant location close to some of the best retailers in the neighborhood, including Sincerely Tommy (high-end clothing store and cafe), Crocus Cafe and Juice Bar, Nagle’s Bagels and Bed-Vyne/Bed-Vyne Wine.

Restoration Plaza
Brooklyn Children's Museum
Barclays Center

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