Overview

Description

Ariel Property Advisors has been hired exclusively to market for-sale 156 Court Street, Cobble Hill, Brooklyn, NY 11201. 156 Court Street is fully occupied and consists of 1 commercial space, 5 free-market units and 1 rent-stabilized unit. Below market rents offer a purchaser the opportunity to immediately improve the bottom line. Commercial tenant Lemongrass Grill (https://lemongrassbrooklyn.com/) is one of the most popular Thai restaurants in Brooklyn and a neighborhood staple. They occupy the entire 1,775 square feet of ground floor space and an additional 1,775 square feet below grade.

156 Court Street is on the west side of the block between Pacific Street and Amity Street and one block south of Atlantic Avenue. This stretch of Court Street is one of the strongest retail corridors in Brooklyn. Neighboring tenants include Rag & Bone, Bonobos, Brooklyn Wine Exchange, Bank of America, Trader Joe’s, Bareburger, Warby Parker, Indochino, Chipotle, CVS, Walgreen’s and more.

New residential towers and boutique condominiums are hitting record prices. Residents have access to the award-winning Brooklyn Bridge Park, The Brooklyn Promenade and the Barclays Center which are all a short walk from the asset. Lastly, 156 Court Street is easily accessible via the F/G trains at Bergen Street, the A & C trains at Schermerhorn Street, and the 2/3/4/5 trains at Borough Hall.

With strong in-place cash flow and significant upside in a rapidly growing area, 156 Court Street represents an outstanding opportunity for investors to purchase a quality asset with free-market units and a strong retail presence.

Documents

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