Overview

TerraCRG has been exclusively retained to represent ownership in the sale of 265 Flatbush Avenue, a massive 4-story 24-foot wide, mixed-use building in the prime Brooklyn neighborhood of Prospect Heights, less than 3 blocks from Barclays Center. The approximately 7,104 SF building currently sits vacant as it was damaged in a fire 10 years ago. The building requires a full gut renovation to re-occupy the building. The building can be configured as four large apartments and one store as per the I-card and has a gross potential rent roll of $630,528 post renovation.

The tax-class protected building sits on the popular Flatbush Avenue retail corridor, where rents can exceed $120/SF. It also benefits from its proximity to Atlantic Terminal and its multiple transit lines, including the 2, 3, N, Q, R, 4, 5, B, D and LIRR.