Free-Market Mixed-Use Building | Bushwick

Overview

TerraCRG has been retained to exclusively represent ownership in the sale of 89 Wyckoff Avenue, a free-market, three-unit mixed-use building ideally situated in the heart of Bushwick, Brooklyn.

Located between Suydam Street and Hart Street, the property is near the DeKalb Avenue and Jefferson Street L train stations, one block from Maria Hernandez Park, and 2.5 blocks from Wyckoff Heights Medical Center. The property is surrounded by Bushwick’s vibrant retail, dining, nightlife, and creative scene, with an eclectic mix of neighborhood favorites, destination bars, music venues, and cultural attractions. Further enhancing the neighborhood’s retail landscape, a 10,000 SF Whole Foods is anticipated to open at 1224 Flushing Avenue, at the corner of Wyckoff Avenue and near the Jefferson Street L train station, in close proximity to 89 Wyckoff Avenue.

The building is anchored by Left Hand Path, a well-established neighborhood bar with a 10+ year track record at the property. The bar features a gut-renovated interior, an approximately 815 SF private backyard, and finished basement space.

The property also includes two floor-through, free-market apartments, each featuring four bedrooms and gut-renovated interiors. Apartment amenities include in-unit washer/dryers, recessed lighting, high ceilings, Fujitsu heating and air-conditioning units, and a virtual doorman.

Generating approximately $177,000 in gross annual income, the property benefits from a favorable expense structure, with separately metered heat and the retail tenant responsible for one-third of the property’s real estate taxes. The combination of established commercial tenancy, renovated free-market residential units, and a prime Bushwick location presents an attractive opportunity for investors seeking a well-positioned mixed-use asset in one of Brooklyn’s most dynamic neighborhoods.