$10,500,000
Updated 7 years ago
Off Market

4210 2nd Ave

Gowanus, Brooklyn | 2nd Ave & 1st Ave

19,750 Square FeetDevelopment Site

$10,500,000
floors1
Lot Size200'3"x100'
ZoneM3-1
Building TypeLow-Rise
RE Taxes$44,640
Price Per SF
$532

Property Description for 4210 2nd Ave

GFI Realty Services LLC is pleased to present the exclusive offering of 4210 2nd Avenue (aka 174-184 42nd Street), a 19,750 sf single-story warehouse located at the intersection of 2nd Avenue and 42nd Street in the Sunset Park section of Brooklyn. The asset is occupied by a single tenant; there is a (49)-year NNN lease in-place with 4.5 years remaining and an annual income of $19,200. There are approximately 20,000 sf of air rights available presenting a future investor with a great redevelopment opportunity. The parcel is zoned M3-1 with a maximum allowable floor area ratio of 2.0. The asset is ideally situated just blocks from the waterfront, Bush Terminal Piers Park and South Brooklyn Marine Terminal. The asset is surrounded by numerous attractions and retailers including the Brooklyn Flea, Costco Wholesale, Sunset Park and Industry City, a massive complex of historic warehouses along Sunset Park’s waterfront that have been converted into creative office and retail space.

Listing History for 4210 2nd Ave

Now
03/04/2019
POM by Yosef Katz
GFI Realty Services
2019

Building Details for 4210 2nd Ave

OwnershipDevelopment Site
Building TypeLow-Rise
AgePost-War
AccessWalk-up
Year Built1974
Floors1
Learn More About the Building

Transit and Citi Bike

Subway

45 St
0.34 miles

Citi Bike

44 St & 2 Ave
0.07 miles
42 St & 1 Ave
0.13 miles

Contact Agent

Contact Agent

Yosef Katz
GFI Realty Services

Gowanus | Brooklyn

Quick Profile

Gowanus is a colorful neighborhood with an industrial aesthetic, tree-lined streets, historic structures, as well as luxury condos and rental buildings. It has a great art scene, fantastic eateries and bars and a 1.8-mile canal that snakes through most of the neighborhood. The variety of elements make it a desirable place to live.  

The neighborhood is on the crest of a major change due to a recently passed rezoning plan that will allow more residential construction. Especially around the Gowanus Canal where construction was once prohibited. The plan will bring new jobs, affordable housing, and create a neighborhood with walkable green spaces and amenities. It’s safe to say that change is coming to Gowanus.  

Gowanus is bounded by Hoyt Street to the west, 4th Avenue to the east, Warren Street, Baltic Street and Wycoff Street to the north, and Gowanus Expressway to the south.

The neighborhood is named after Gouwane, a chief in the Canarsie Indian tribe. His name, according to the history books, translates to “the sleeper.” Other historic accounts say that the Gowanus name comes from the Dutch word gouwee, which translates to the word bay. Based on early New York History surrounding Dutch settlers and native tribes, both accounts seem plausible. 

Gowanus began development as far back as the 1630s when the Dutch arrived. They began building farms and soon realized the marshy lands they settled were not the best for growing crops and farming. They began damming up certain areas of the land with hopes of creating better soil and powering their windmills. This was the beginning of the formation of the Gowanus canal.

The natural estuary was once brimming with oysters and fish. But in the 1800s, the canal was turned into an industrial and transportation waterway. In the mid 1900’s, industrial factories like manufactured gas plants, paper mills, and other businesses opened along the canal and casually polluted the water. It’s cleanup efforts have come a long way but there is still much work to be done. 

The newly approved Gowanus rezoning plan has caused lots of buzz this year. Mayor Bill DeBlasio's plan will rezone 82 blocks which will pave the way for an estimated 8,500 new apartments, 3,000 of which would be offered to low and moderate-income New Yorkers. The plan includes major improvements to the local infrastructure. Although the rezoning plan might not create a housing boom today or tomorrow, proponents say the rezoning sets the stage for major growth in Gowanus in the decades to come.

The F, G, D, N, R, and W subway lines service the Gowanus neighborhood.

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 73957TH