6725 5th Ave Brooklyn NY Mixed-use
Mixed Use |Value Add Opportunity
Marketing description
Marcus & Millichap has been engaged to exclusively market for sale 6725 5th Avenue (Block & Lot: 5856-13) in the Bay Ridge neighborhood of Brooklyn, NY. The property is a three story walk up masonry building with (2) three bedroom apartments and one ground floor retail store. The property was constructed in 1931 on an irregular 33 ft. by 100ft. lot and has been used by the same family for six decades. The ground floor has been historically used and operated a bar restaurant and party room.
This is an opportunity for an investor to add value by reconfiguring and renovating the existing large 956 apartments and take advantage of high rental demand on both residential and commercial properties in this vibrant neighborhood.
Note that this property has an easement to use half of the lane for the last 60 years. The building across the lane has used the other half for the same period as well and the lane is partitioned with a fence. This is an addition 2000 square feet the property enjoys for it’s exclusive use for parking and other purposes related to the historic party and event s.
Seller financing available.
Investment highlights
First time on market in 60 years.
Value add opportunity. Potential to convert to four apartments
Corner building with 2 four bedroom apartments.
Private lane and parking for six cars.
Bar and Party room in operation for decades that may be reused.
110 feet of wrap around retail exposure.
Located on Bay Ridge, Brooklyn active retail corridor.
Minutes to the R subway station at 4th Avenue.
The new City if Yes development programs offers additional air rights to similar properties located on wide street and close to subway stations such as t
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