$8,990,000 / 201 42nd Street
Brooklyn
Features
DescriptionA rare offering of a 91,682 SF Industrial Building in one of New York City's hottest industrial enclaves.Property is sub-divided and fully leased at below market rents to 17 tenants, with a current gross annual income of $503,436.Tremendous upside with the majority of the leases expiring within 12 months; 40% of the space can be vacated at the end of 2006 and a total of 62,000 SF can be vacated at the end of 2007 upon expiration of additional leases.The property is conveniently located just 2 blocks off the Gowanus Expressway 39th Street ramp and just a few blocks away from express Subways. This is a great opportunity for an investor or an owner/user to acquire a large property below $100 per Sq. Ft. and increase value through turn over and capital improvements. |
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