Closed 12/22/2015

Eight Unit Mixed-Use Building

128-130 Cortelyou Road

Kensington & Parkville

Closed 12/22/2015 at
$2,275,000

Total Units 8
Residential Units 3
Commercial Units 5
Gross SF 7,200
Cross Streets Cortelyou Road & East 2nd Street
Subways
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Retail/Mixed-Use 128-130 Cortelyou Road, Kensington & Parkville
Eight Unit Mixed-Use Building
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Details

Block 5385
Lot 11
Lot Size 40 ft x 100 ft
Building Size 40 ft x 100 ft
Building Class S9
Tax Class 2B
Stories 2
Zoning R6A/OP
Lot SF 4,000
FAR 3
Total Buildable 12,000
Available Air Rights 4,8000

Overview

This 8-unit offering, on the corner of Cortelyou Road and East Second Street, provides a rare opportunity to acquire a corner mixed-use property with 40 feet of frontage on Cortelyou Road for a 6% CAP rate.

The building is currently configured as four ground floor retail spaces that can be divided into five spaces, with a total of 3,335 SF. The upper floors consist of three 3-bedroom residential units totaling 3,000 SF.

Kensington is predominantly a residential neighborhood anchored by the Cortelyou Road retail corridor, home to a number of popular neighborhood eateries such as the Purple Yam, The Farm on Adderly and Ox Cart Tavern. The property is located just one and a half blocks from the Ditmas Avenue F subway station, with a short commute to Manhattan.

Attractions

Kensington is a predominantly residential area consisting of housing types that run the gamut from brick row houses, to detached one family Victorians and apartment buildings. The main commercial streets on on Coney Island Avenue, Church Avenue and Ditmas Avenue. In addition, pre-war brick apartment buildings dominate the Ocean Parkway and Coney Island Avenue frontage, many operating as co-ops.

Kensington Stables
Prospect Park
Prospect Park Tennis Center

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