One Knickerbocker Ave, Bushwick, Brooklyn
Aka. 420 Johnson Avenue
Extraordinary investment opportunity, centrally located in Bushwick, sitting on top of the trendy Morgan Avenue station. This is where locals and tourists alike go to experience Brooklyn’s top F&B and experiential destinations, such as Roberta’s, Brooklyn Mirage, Momo Sushi, Netflix Studios (170,000 SF), Syndicated Movie Theaters, Ichiran Ramen, and the constant stream of events and pop-ups drawing thousands to the area each night, even up to tens of thousands on weekends.
Building Specs:
6,900 SF commercial-use building
2,300 SF on the ground floor
2,300 SF cellar with full kitchen
2,300 SF second-floor loft space
Prominent Corner Building - Over 125 ft of Frontage
High ceilings throughout
Lot Area: 2,310 SF
Zoning: M1-2
Commercial/Manufacturing FAR: 2.0
Community Facility FAR: 4.8
Real Estate Taxes: $58,374
Rent Roll: $258,000
Expenses: $60,197
NOI: $197,803
Price: Please contact the Exclusive Brokers for pricing
The Offering Memorandum can be downloaded here
Download the Certificate of Occupancy
This building located in a designated Opportunity Zone, which allows you to defer gains on other investments when you use those gains to purchase a property in the OZ. Additionally, per Investopedia: “Investors who hold their investments in qualified opportunity funds for at least 10 years are eligible for an adjustment to the cost basis of the investment to reflect the fair market value on the date that the investment is sold or exchanged. As a result, due to the adjustment to the basis, gains made from the appreciation of qualified opportunity funds are exempted from tax payments.” Anyone can create an Opporunity Fund, but please consult a professional accountant about other benefits that may apply to you in the Opportunity Zone.
Contact the Exclusive Agents at MCRE: