Gut Renovated Mixed-Use Building in Bushwick

1191 Broadway

Bushwick

Size 8,795 Net SF
Size 11,656 Gross SF
Frontage 125 Ft
Cross Streets Lafayette Ave + Kossuth Pl
Subways
j
m
z
Buses
B47, Q24
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Mixed-Use 1191 Broadway, Bushwick
Matthew Cosentino
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Details

Gross annual income $375,294
NOI $327,672

Overview

TerraCRG has been retained exclusively to sell 1191 Broadway – a gut renovated mixed-use building located in Bushwick, between Kossuth Pl Avenue and Lafayette Ave.

The five-story building is ~11,656 SF and comprised of three ground floor retail spaces and ten residential units. Both the interior and exterior recently underwent a condo-quality renovation. The property also has a common roofdeck and majority of the units have private outdoor space. The property is generating a $375,294 gross annual income and an NOI of ~$327,672. At asking price, the property equates to a ~5.5% cap rate.

Attractions

Located on one of Brooklyn’s most active retail corridors, the property is located just three blocks from the J/M/Z train at Kosciuszko Street that provides a 10-12-minute commute to lower Manhattan.

The retail along this section of Broadway is very strong with art galleries, bars, and restaurants all in proximity to the property. Some retailers include Wonderville, Sky Town, Bodeguita, The Living Gallery, Santa Panza, BK Bagels, Chipotle, Blink Fitness, S&S Barbell, Lone Wolf and Brooklyn Whiskers.

Wonderville
Sky Town
Bodeguita
The Living Gallery
Santa Panza
BK Bagels
Chipotle
Blink Fitness
S&S Barbell
Lone Wolf and Brooklyn Whiskers

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