Closed 10/24/2014

Fully Occupied Seven Unit Mixed Use Building For Sale

414-416 Tompkins Avenue

Bedford-Stuyvesant

Closed 10/24/2014 at
$2,000,000

Total Units 7
Residential Units 6
Commercial Units 1
Gross SF 5,600
Cross Streets Hancock St & Halsey St
Subways
a
c
Buses
B43
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Retail/Mixed-Use 414-416 Tompkins Avenue, Bedford-Stuyvesant
Ofer Cohen
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Details

Block_Lot 1839_37,38
Total Lot Size 40 ft x 100 ft
Stories 2
Zoning C2-4/R6A
Total Lot SF 4,000
FAR 3.00
Available Air Rights 6,400

Overview

The mixed use building at 414-416 Tompkins Avenue is now offered for sale. The building is located on Tompkins Avenue between Hancock Street and Halsey Street in the Bedford Stuyvesant neighborhood of Brooklyn.

The building consists of six residential units and one commercial unit. The property is currently configured as two buildings but the ownership is in the process of obtaining a new certificate of occupancy to combine the buildings into one. The property is fully occupied and has a gross annual income of over $10,200/monthly. With Estimated expenses at $30,700, the net operating income is approximately $92,700.

The property is situated on Tompkins Ave surrounded by a growing presence of note-worthy restaurants, boutiques & cafes. The property is also located only blocks away from Tompkins Park. The area has seen tremendous growth in the last 3 years. Despite the recent recession, the Bedford Stuyvesant area continued to improve. Residential retail rents have increased steadily as more new residents are migrating from out of town calling Bed-Stuy their first NYC home.

 

 

Attractions

Since 2008, a score of new cafes, restaurants, bakeries, boutiques and wine bars have sprung up in the areas with a concentrated growth found along the western and southern parts of the neighborhood to cater to new residents moving into the area. In 2011, Bedford Stuyvesant listed three Zagat rated restaurants for the first time, one of which being Peaches Hothouse located right across the street at 415 Tompkins Avenue.

Barclays Center
Pratt Institute
Peaches Hothouse

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