July 15, 2019 – Ben Tapper, Senior Managing Director, and Garry Steinberg, Executive Managing Director/Principal of Lee & Associates NYC, have been named the exclusive sales agents for 731 Flushing Avenue.
The property contains over 73,000-usable square feet, two elevators, and is a single-tenant office building located on a block-through lot between Thornton Street and Flushing Avenue in Brooklyn’s Broadway Triangle/South Williamsburg neighborhood. The building is occupied by New York City, with three years remaining on the lease and a five-year option to renew. The property boasts large floorplates, a minimum of 10-foot ceiling heights, and multi-sided light. Based upon the flexible zoning of C4-3, the property could be maintained as an office building as well as converted to residential or mixed use.
“This office opportunity is ideally situated at the intersection between the booming neighborhoods of Williamsburg and Greenpoint, as well as the up-and-coming areas of Bedford-Stuyvesant and Bushwick,” explains Steinberg. “731 Flushing Avenue offers investors the opportunity to acquire a large office property that has been owned by the same family for over half a century and provides the potential for redevelopment with an urban infill asset,” adds Tapper.
The property is located across the street from Woodhull Hospital and is in close proximity to the J, M, and G trains. This asset is priced at $40 million.