Prime South Williamsburg Development and Industrial Opportunity

Highlights:

• Prime South Williamsburg Development and Industrial Opportunity
• Total of 27,600 Buildable Square Feet Between Both Properties
• 17-19 Spencer Street is a Block-Through Warehouse Featuring 11,300 SF of Commercial Space
• 468 Flushing Avenue Features 25 Feet of Frontage to Flushing Avenue; 5,000 Total BSF
• Properties are Steps from the Myrtle Avenue Retail Corridor and a Short Distance from the Brooklyn Navy Yard
• Four Blocks from the Flushing Avenue “G” Subway Station

Description:

17-19 Spencer Street and 468 Flushing Avenue are located in the South Williamsburg neighborhood of Brooklyn.

17-19 Spencer Street is a warehouse located between Flushing and Park Avenues (Block-Lot: 1716-0018). The block-through property consists of 10,500 square feet of warehouse space and an 800 square foot lot on Walworth Street. The building features 21-foot ceilings, two large freezers, and three roll-up gates. The irregular lot measures 50.5 x 200 ft, totaling 11,300 square feet.

468 Flushing Avenue is a vacant lot located between Spencer and Walworth Streets (Block-Lot: 1716-0025). The lot measures 25 ft x 100 ft, totaling 2,500 square feet. The property features 25 feet of frontage to Flushing Avenue. Flushing Avenue is a growing retail corridor with local retail rents reaching $40/ft.

Combined, the properties feature 27,600 buildable square feet based on M1-2 zoning. This zoning also has a community facility FAR of 4.8 allowing for a much larger potential development. Many local developments have utilized this community facility FAR to maximize building size.