Mixed-Use Building on Third Avenue
725 3rd Avenue
Greenwood Heights
$1,250,000
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718-395-1877
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Overview
TerraCRG has been retained to exclusively represent ownership in the sale of a value-add mixed-use building in Sunset Park. 725 Third avenue is located at the corner of 24th Street and Third Avenue and offers the opportunity to obtain property in one of NYC’s fastest
growing submarkets.
After a renovation, the building has a projected rent roll of approximately $154,800 and, at asking price, is offered at approximately $339/gross SF. The property offers a projected NOI of $110,340 and the current taxes are $25,661.84.
Attractions
On the border of buzzing mixed-use neighborhoods, Greenwood Heights and Sunset Park, the property is conveniently located near the 25th Street R subway entrance as well as the on-ramp to the BQE, providing easy access to Manhattan and beyond. Nearby successful commercial projects include Industry City and Liberty View Plaza, among a plethora of other Brooklyn manufacturers, warehouses, retailers and more.
