Brooklyn, NY; Baruch Edelkopf, Joseph Rosenfeld and Steven Hakakian of Schuckman Realty Inc. have been retained to sell an assemblage of eight contiguous properties in the Ocean Hill opportunity zone, at 544-556 Howard Avenue, Brooklyn, NY 11233.
The buildings, which are in a qualified opportunity zone, will be marketed as “Howard Ave. Assemblage”. The assemblage features 161 feet of frontage on Howard Avenue (142 feet are existing and 19 feet on the corner vacant lot). The building totals 15,880 of existing square footage and 14 total units (seven apartments above seven ground-floor retail units). Six of the seven properties have undergone extensive renovation, and the remaining building has been completely gutted and the structure has been reinforced and floors leveled. The zoning: R6A, C2-4, offers an additional 14,279 square feet of unused air rights.
Baruch Edelkopf will spearhead the property’s marketing initiative with Joseph Rosenfeld and Steven Hakakian. According to the brokers, the portfolio has multiple purchase options: it can be sold as an income producing asset, where an investor can purchase all the small mixed-use buildings 544 to 554, as those the buildings have the potential to produce an NOI of 233,544. The landlord will also entertain offers on 556 Howard Avenue, a two-story vacant commercial building with an open floor plan consisting of 7,500 Square feet and a 3,400 square foot basement.
Listing can be viewed at this link:
About Schuckman Realty Inc.: Schuckman Realty is a full service commercial real estate services firm serving New York City, Long Island, New Jersey and the surrounding tri-state area. Schuckman has developed a reputation as a leading retail broker and developer in the New York Metro area, with special expertise in developments, redevelopments, and renovations in all Five Boroughs of New York City and Long Island. As a strategic planner of retail stores, shopping centers and boutique projects, Schuckman has been responsible for tens of millions of square feet of leasing and development and has been hired by numerous national retail chains to facilitate macro–market penetration. We attribute our success to our intimate team’s proficiency in market analysis and site planning, in addition to tireless dedication and extensive experience from both sides of the table.
Keywords: Real Estate Sales, Building Sale, Commercial Real Estate, Multi-family Sales, Investment Sales, Brooklyn NY, New York Real Estate, New York Opportunity Zone, Opportunity Zone,