$8,000,000
Updated 3 months ago
Off Market
Bedford Stuyvesant, Brooklyn | Nostrand Ave & Bedford Ave
11,100 Square FeetCommercial

$8,000,000
floors3
Lot Size37'5"x100'
Built Size37'x100'
ZoneR6A
Building TypeLow-Rise
RE Taxes$61,886
Price Per SF
$721

Listing Features

  • Original Details

Building Amenities

  • Elevator

Property Description

Ariel Property Advisors presents 405 Gates Avenue, a vacant, fully-renovated, 11,100 square foot, three-story, elevator building located on the northwest corner of Gates Avenue and Nostrand Avenue in the Bedford-Stuyvesant neighborhood of Brooklyn. The building consists of two retail units on the ground floor with approximately 130 feet of wrap-around frontage and two floor-through office spaces on the second and third floors with ceiling heights of approximately 16’ and 28’ respectively. In addition, the basement is finished with two large units with ceiling heights of approximately 9’ and three storage units. The entire building has been renovated with high-end finishes while preserving original details. The building is ADA compliant with a shared elevator, separate staircases, vaulted ceilings, and over-sized windows. The heat and air conditioning are electric and there are separate gas and electric meters for each space. In addition, there are gas space heaters in each unit. The property is located in one of the most heavily trafficked commercial corridors in the heart of Bedford-Stuyvesant. The building is very well situated, just four blocks south of the G train and a short walk to the A and C trains on the corner of Nostrand Avenue and Fulton Street. In addition, Key Food Supermarket is one block away and the Bedford-Stuyvesant YMCA is just two blocks away on Monroe Street. There are a number of new cafes, bars, and restaurants in the immediate vicinity. Directly next to the property, at 403 Gates Avenue, is a vacant lot with 5,625 buildable square feet as-of-right for a mixed-use project (R6A/C2-4). This lot is separately for sale and the air rights can be used to expand 405 Gates Avenue. For more information including a marketing book, please contact our office.

Listing History

Now
05/27/2022
POM by Jonathan Berman
Ariel Property Advisors
2022

Building Details

OwnershipCommercial
Building TypeLow-Rise
AgePre-War
AccessElevator
Year Built1931
Floors3
Learn More About the Building

Transit and Citi Bike

Subway

Bedford-Nostrand Avs
0.27 miles
Nostrand Av
0.4 miles
Franklin Av
0.46 miles

Citi Bike

Greene Ave & Nostrand Ave
0.14 miles
Putnam Ave & Nostrand Ave
0.17 miles

Contact Agents

Contact Agents

Jonathan Berman
Ariel Property Advisors
Dov Chein
Ariel Property Advisors
Brendan Dal Col
Ariel Property Advisors

Bedford Stuyvesant | Brooklyn

Quick Profile

Known for its historic brownstones and tight-knit enclave, Bed-Stuy has increasingly left behind its early reputation for being a “bedroom community” and transcended into a highly desirable neighborhood. 

Distinct for its aesthetic, it is populated with ornate buildings characterized by cornices, friezes, finials, fluting and other marks of classic architecture. Built up during the period from 1870 to 1900, its historic district runs to the north of Jefferson Avenue, to the east of Malcolm X Boulevard and to the west of Tompkins Avenue. 

At one point known as “Brooklyn’s Little Harlem,” the shape of the area has shifted toward attracting a wider demographic of people thanks to the influx of bars, restaurants, antique furniture stores and vintage boutiques. More police enforcement paired with the decline of the crack epidemic at the beginning of the 2000s also opened the door for increased development, as well as the occupation of formerly abandoned buildings and spaces. 

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: 77460TH