Warren Lewis Sotheby's International has been retained on exclusive basis to market this great corner building located in Cypress Hills. This Extra Large corner 100% rented income producing building offers under the new approved zoning (R8A with Commercial Overlay) additional 12,249 of air rights. It is also qualifies for a community facility bump in FAR and in that case it will add another 4,786 of air rights. Gross Income - $320,000 NOI - $230,000 Current Cap - 4.1% POTENTIAL CAP - 7-8% Occupied by 2 tenants with 4 years left on their leases. Lot Size: 4,056 Lot Dimensions: 49.75 ft x 82 ft New FAR - 6.02 FAR with community Facility - 7.20 Existing sqft: 12,168 Total Allowed with 6.02 Far - 24,417 sqft Total Allowed with 7.2 Far - 29,203 This building will be delivered 100% occupied. Located on a very busy intersection of Pennsylvania & Atlantic Avenues. Contact us today for more details.
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