318 Knickerbocker Ave
Brooklyn, NY 11237 Bushwick

• Unit Size: 21,835 SF
• Condo Use: Retail
• Price: $11,900,000 USD
• Sale Type: Investment or Owner User
• Price/SF: $545.00 USD

Description

Fully leased and cash-flowing retail condo package along Knickerbocker Avenue. The package includes four units with a weighted average lease term (WALT) of 6.54 years.

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.

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.