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Warehouse

222 Varick Avenue

222 Varick Avenue, Brooklyn, NY 11237

Listing Price: $5,100,000

Gross SF
14,930
Price/Gross SF
$341.59
Lot Size
0.17 acres
Year Built
1951
Rentable SF
14,930

Investment Overview

Marcus & Millichap has been retained on an exclusive basis to arrange the sale of 222 Varick Avenue, a two-story, 15,000 square foot industrial property ideally located just off Metropolitan Ave in the East Williamsburg section of Brooklyn, NY. It is built full on a 70.42 ft x 106 ft lot (Block: 02945 Lot: 0010). It features approximately 7,500 square feet of ground floor warehouse space, serviced by an overhead drive-in door, and approximately 7,500 square feet of second floor fully built, turn-key office space. The subject property is strategically located only 100 feet from Metropolitan Ave., and just one and a half miles from the Metropolitan Ave exit of The Brooklyn Queens Expressway, providing easy access to Manhattan, Queens, Brooklyn and Long Island. The property is in a Qualified Opportunity Zone, which comes with substantial tax benefits if repurposed accordingly. Additionally, the subject property is located within the North Brooklyn IBZ, which is subject to the proposed North Brooklyn Industry & Innovation Plan (IIP), which if passed, will increase the FAR of the current zoning (M3-1) from 2 to 4, giving the investor twice the buildable square footage currently allowed as-of-right. 222 Varick Avenue is also conveniently located only a half mile from the Grand Street ā€œLā€ train subway station, allowing an easy commuting option for employees, clients, and customers. Investors and owners have the unique opportunity to purchase a vacant warehouse in a neighborhood that is truly last mile delivery to Manhattan, Brooklyn, and Queens. Commercial rents in the neighborhood remain some of the highest in the borough, and demand for industrial space is unparalleled.

Investment Highlights

  • Vacant Warehouse, Totaling 7,500 SF with an Additional 7,500 SF of Fully-Built Office Space
  • Located in a Qualified Opportunity Zone
  • Located in the N. Brooklyn IBZ, which qualifies for the proposed Industrial Innovation Plan (IIP)
  • Easy Access to all Major Thoroughfares (BQE, LIE, Metropolitan Ave, etc.)
  • Flexible Investment Options

Exclusively Listed By

Warehouse

222 Varick Avenue

Listing Price: $5,100,000

Gross SF
14,930
Price/Gross SF
$341.59
Lot Size
0.17 acres
Year Built
1951
Rentable SF
14,930

Investment Highlights

  • Vacant Warehouse, Totaling 7,500 SF with an Additional 7,500 SF of Fully-Built Office Space
  • Located in a Qualified Opportunity Zone
  • Located in the N. Brooklyn IBZ, which qualifies for the proposed Industrial Innovation Plan (IIP)
  • Easy Access to all Major Thoroughfares (BQE, LIE, Metropolitan Ave, etc.)
  • Flexible Investment Options

Investment Overview

Marcus & Millichap has been retained on an exclusive basis to arrange the sale of 222 Varick Avenue, a two-story, 15,000 square foot industrial property ideally located just off Metropolitan Ave in the East Williamsburg section of Brooklyn, NY. It is built full on a 70.42 ft x 106 ft lot (Block: 02945 Lot: 0010). It features approximately 7,500 square feet of ground floor warehouse space, serviced by an overhead drive-in door, and approximately 7,500 square feet of second floor fully built, turn-key office space. The subject property is strategically located only 100 feet from Metropolitan Ave., and just one and a half miles from the Metropolitan Ave exit of The Brooklyn Queens Expressway, providing easy access to Manhattan, Queens, Brooklyn and Long Island. The property is in a Qualified Opportunity Zone, which comes with substantial tax benefits if repurposed accordingly. Additionally, the subject property is located within the North Brooklyn IBZ, which is subject to the proposed North Brooklyn Industry & Innovation Plan (IIP), which if passed, will increase the FAR of the current zoning (M3-1) from 2 to 4, giving the investor twice the buildable square footage currently allowed as-of-right. 222 Varick Avenue is also conveniently located only a half mile from the Grand Street ā€œLā€ train subway station, allowing an easy commuting option for employees, clients, and customers. Investors and owners have the unique opportunity to purchase a vacant warehouse in a neighborhood that is truly last mile delivery to Manhattan, Brooklyn, and Queens. Commercial rents in the neighborhood remain some of the highest in the borough, and demand for industrial space is unparalleled.

Exclusively Listed By

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