Closed

Corner Retail Condo in Gowanus

8 St Marks Place

Gowanus

Closed at

Lot SF 3,943
Commercial SF 479
Cross Streets St Marks & Third Avenue
Subways
b
d
n
q
r
2
3
4
5
Buses
B35, B67, B103
Other Transportation
LIRR
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Commercial Condo 8 St Marks Place , Gowanus
Dan Marks
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Details

Cap Rate 6.2%
NOI ~$34,000

Overview

TerraCRG has been retained to exclusively represent ownership in the sale of the corner retail condo unit at 8 St. Marks Place, in Gowanus, Brooklyn.

This is an opportunity to acquire a brand-new construction, retail condo totaling 479 SF on the ground floor. The unit is leased to The Bearded Baker until 2029 with 3% annual increases with a current NOI of ~$34,000. Rising 8 stories above the commercial condo are 14 luxury residential condos.

Attractions

The Gowanus section of Brooklyn is undergoing a major transformation. The neighborhood is on the verge of a major mixed-use rezoning which will bring over 8,200 apartments to the surrounding area. This influx of residential density and increased commercial activity is sure to boost the ongoing demand for commercial space in the immediate area.

The site has exceptional transportation options with the Atlantic Avenue/Barclays Center Station just a few blocks away. This transportation hub services the N, Q, R, B, D, 2, 3, 4 and 5 trains as well as the Long Island Rail Road (LIRR).

Boerum Park
Museum of Contemporary African Diasporan Arts (MoCADA)

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