B6 Real Estate Advisors has been retained on an exclusive basis to arrange for the sale of 1100 Kings Highway in the Gravesend neighborhood of Brooklyn.
• Subject property is a single-story retail property that spans 251.47’ x 108.67’, with total gross square footage of 43,180.
• Property includes J.P. Morgan Chase and Dress Barn as tenants along Kings Highway, generating a gross income of over $1.4 million annually.
• Departing tenants at the rear tax lot of the property along Kings Highway would allow developer to build up to 90,377 buildable square feet as-of-right, including the transfer of air rights from the corner tax lot.
• Kings Highway and Coney Island Avenue are two of Southern Brooklyn’s busiest corridors and major thoroughfares, which sees approximately 38,000 vehicles passing daily at this intersection.
• Located in a area that surrounded with many other national retailers such as Walgreens, Santander, CitiBank, TD Bank, Northfield, Capital One, 24 Hour Fitness, City MD, Chipotle, Starbucks, and Aldo Shoes.
• The site would be eligible for Affordable NY (421a), offering a 35-year tax abatement with 30% of the units rented at 130% AMI.
• Public transportation are available via the B Q trains, located at express Kings Highway station and B7, B68, B82, and B82 Select-ABus lines available directly in front of the property.