Investment Overview

The subject offering is a 4.5-acre M1-1 zoned piece of property on the South Shore of Staten Island, NY that has approvals to build a 100K SF shopping center with a 230-car parking lot. The offering currently consists of six individual tax lots, all zoned M1-1. The approved plans call for a 3,100 SF freestanding outparcel and a 98,391 SF shopping center, consisting of 75,000 SF of on-grade retail, and approximately 23,391 SF of second-story space. All site work requirements have been completed, and the project was recently granted full CPC Approval. It is now only subject to DOB Approvals. The site is in the best destination retail corridor on Staten Island’s South Shore. The offering is located directly across from Bricktown Center, a 600K SF Class A destination retail center that features retailers such as Home Depot, Target, Shop Rite, Ulta, TJ Maxx, Michael’s, Regal Cinemas and Petco. The offering also rests directly in front of the entrance to South Shore Commons, a 170,000 SF mixture of in-line shopping center space and freestanding outparcels that features tenants such as Dunkin Donuts, Panera Bread, Mattress Firm, Carter’s, Z Lounge and Retro Fitness. The new development will benefit from incredible Staten Island demographics, with a five-mile population of 263K people with an average household income of $145K per year. Traffic counts on this section of 440 are 75,000 vehicles per day. This is the rare opportunity to acquire a fully-approved shopping center development site in New York City with substantial parking and incredibly strong demographics in a dominant retail trade area