5,600 Square Foot Retail Space For Sale @ 209 Smith St

Call For Offers: March 28, 2017 Property tours are available by appointment ONLY. Please contact Michael Lipman to schedule at michael.lipman@cushwake.com or 718-307-6509. Investment Highlights: Vacant ±5,600 SF, two-level, corner retail condominium unit Value-add opportunity providing numerous options for an investor or user Located in Cobble Hill with 40? of frontage on Smith Street Anchored on the corner of Smith and Baltic Street, in the heart of Brooklyn?s renowned Restaurant Row Within proximity to 12 nearby subway lines with excellent visibility from thousands of daily commuters and pedestrians Strong economic drivers in Brooklyn submarket with stable and increasing demand for retail, office, and mixed-use property Brooklyn local employment grew approximately 28% in the borough between 2000 and 2014, with health care accounting for approximately 33% of local jobs Investment Overview: 209 Smith Street is a corner, ±5,600 SF, retail condominium unit located in the Cobble Hill section of Brooklyn. The Property includes units C1, 1A, and 1B, is currently 100% vacant and offers upside through lease up of the vacant space. The property offers 40’ of frontage on Smith Street, one of the borough’s main and most trafficked retail corridors, and ±5,600 SF across two levels including a finished basement, providing numerous options for future investors and a broad range of tenants. Cobble Hill is a small neighborhood within Brooklyn comprising 40 blocks. Cobble Hill sits adjacent to Brooklyn Heights to the north, Boerum Hill to the east, Carroll Gardens to the south, and the Columbia Street Waterfront District to the west. Known for being a charming and historical neighborhood, Cobble Hill is celebrated for its tree lined streets, cobblestone roads, and outstanding architecture. Smith Street is one of the most interesting and diverse retail corridors in the city that has undeniably become the neighborhood’s major attraction, perfectly capturing its charm with a combination of trendy shops and new restaurants. Hip retailers, in addition to Brooklyn’s most illustrious restaurants, have made Smith Street a chic destination for locals and tourists alike. With more than 2.62 million residents, Brooklyn houses the largest population of all the New York boroughs. In addition to the overwhelming amount of residents moving into Brooklyn, over 2,000 hotel rooms were built within walking distance of 209 Smith St., bringing tourists to the already heavily trafficked area. 209 Smith Street is conveniently located in close proximity to 12 subway lines and steps from the Long Island Rail Road, making the property visible to potentially 123,000 daily commuters and countless pedestrians pursuing the local restaurants and shops. Nearby retailers include Lululemon, Lucky Brand, Brooklyn Industries, American Apparel, Trader Joe’s, and Barney’s CO-OP to name a few. Brooklyn’s local employment has grown substantially in recent years, ballooning approximately 28% from 2000 to 2014. Nearly 33% of local jobs reside in the health care, providing a strong, stable local workforce to support the local economy. Additionally, Brooklyn added more than 640 bars and restaurants between 2011 and 2014. The potential upside with a property such as 209 Smith Street is limitless and really suitable for a wide spectrum of investors to users alike. Anchored on the corner of Smith and Baltic Streets, in the heart of Brooklyn’s renowned Restaurant Row, 209 Smith Street offers a huge value-add opportunity for investors through lease-up or an opportunity for an owner/operator to own their own space.