Closed 08/13/2015

Vacant Mixed Use Property & Attached Lot

374-376 Cleveland Street

East New York/Brownsville

Closed 08/13/2015 at
$650,000

Total Units 8
Residential Units 7
Commercial Units 1
Gross SF 5,400
Cross Streets Liberty Avenue and Glenmore Avenue
Subways
c
j
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Retail/Mixed-Use 374-376 Cleveland Street, East New York/Brownsville
Matthew Cosentino
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Details

Block-Lot 3984-18/19
Lot Size 50 ft x 90
Building Size 25 ft x 72 ft
Building Class R5/C2-3
Stories 3
FAR 1.25
Lot SF 4,450
Buildable SF 2,813

Overview

TerraCRG has been retained to exclusively represent ownership in the sale of the vacant building and attached vacant lot located at 374-376 Cleveland Street in the East New York neighborhood of Brooklyn. The property is located on Cleveland Street between Liberty Avenue and Glenmore Avenue and is conveniently located within very close proximity to both the J Train at Van Siclen Station and the C Train at Shepherd Station.

The entire property will be delivered vacant and requires a full renovation. The package consists of a 5,400 SF building and an attached 25 ft x 90 ft parking lot. The building is currently configured as seven units and an 18,00 SF ground floor space. There is also the possibility of creating additional units in the ground floor space. There is tremendous upside in the area as it is situated within Mayor De Blasio’s East New York rezoning plan. An up-zoning of the neighborhood would bring substantial development to an already emerging area.

Attractions

East New York is a neighborhood located in the Eastern section of Brooklyn. Many new developments are rising in the area including the Gateway Center, located on what was one pact of a landfill near Jamaica Bay. The Gateway shopping mall in Starrett City near East New York is suburban-style, and is home to retailers that include Bed Bath & Beyond, Staples, Marshalls, Olive Garden, Red Lobster, Target, The Home Depot and more.

East Brooklyn Industrial Park

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