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Grnd Floor - Unit 318-334
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Retail
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21,824 SF
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$11,900,000 USD
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Unit Size: 21,824 SF
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Condo Use: Retail
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Price: $11,900,000 USD
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Sale Type: Investment or Owner User
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Price/SF: $545.27 USD
Sale Notes
PRIME BUSHWICK
RETAIL CORRIDOR
Positioned on Knickerbocker Avenue — a high-visibility, high-foot-traffic corridor in the heart of Bushwick — surrounded by a dynamic mix of national retailers and local businesses.
VALUE-ADD RETAIL
OPP ORTUNIT Y
Two of the five retail units are currently vacant, presenting an attractive opportunity for a purchaser to capture upside through immediate lease-up or to occupy the space for their own use.
ICIP ABATEMENT
The Assemblage benefits from a 25-year ICIP Tax Abatement which is due to expire in 2038
SERVICE ORIENTED & TRADITIONAL RETAIL TENANCY MIX
Current tenants include Oak Street Health
[acquired by CVS in 2023], which operates as a primary healthcare facility for the elderly, along with a laundromat and a clothing retailer serving the local community.
EXCELLENT TRANSIT ACCESSIBILIT Y
Located within short blocks from the L and M subway lines, providing quick access to Manhattan and other parts of Brooklyn —
a key driver of both residential and retail demand.
STRONG DEMOGRAPHICS &
DEMAND DRIVERS
Located in one of Brooklyn’s fastest-evolving neighborhoods, fueled by a growing population of young professionals, artists, and creatives. Recent years showed a strong increase in residential demand with median gross rents exceeding a 68% increase from 2006 to 2023 - higher than the city average.
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Andreas Efthymiou
Ripco Real Estate
