EXCLUSIVEOFFERING - LoopNet2020/10/01 · This brochure has been reviewed by representatives of...

431 AvenueP, Brooklyn, NY 11230| Tel: 718.971-1675| www.jacohengroup.com

Jack A. CohenPresident

(718) 971-1675 -Office

(917) 533-8905 -Cell

[email protected]

KINGS PLAZA RETAIL PORTFOLIO5 RETAIL BUILDINGS & 1 PARCEL

EXCLUSIVEOFFERING

Marine ParkFlatbush Ave & Ave U

2 Full Blockfronts34,000 SF Of Retail Properties on a 4-Way Hard Corner

http://www.jacohengroup.com/

mailto:[email protected]

431 AvenueP, Brooklyn, NY 11230| Tel: 718.971-1675| www.jacohengroup.com

EXCLUSIVEOFFERING

KINGS PLAZA RETAIL PORTFOLIO5 RETAIL BUILDINGS & 1 PARCEL

http://www.jacohengroup.com/

JA COHEN ADVISORY GROUP as exclusive agent for ownership is pleased to offer a rare opportunity to acquire a 6-property portfolio of 34,000 feet of retail space on 2 main retail corridors—Flatbush Ave and Ave U across from Kings Plaza Shopping Center.

THE PORTFOLIO2484-2488 Flatbush Ave, a 7,000 SF corner retail store with national NN tenant Mattress Firm. The building has 170’ total frontage on Flatbush Ave and Ave U and is situated directly across from the Kings Plaza shopping Center.

4206-4212 Ave U is a 4,200 SF building with 2 retail units and 60’ of frontage, which is contiguous with the Mattress Firm corner property.

4204-4204 Ave U is a single-story, 2,800 SF retail building set on a 2,800 SF lot which completes an entire blockfront on Ave U.

4101-4103 Ave U is a 2-story, 5,500 SF retail building set on a 4,000 SF lot which includes 2 retail units and 3 residential apartments. It is contiguous with

4105-4107 Ave U, a 6,000 SF vacant lot also contiguous with

4113-4123 Ave U, a 10,000 SF single-story retail building set on a 10,000 SF lot with 2 retail units and a daycare center which completes an entire city blockfront.

Located at the Venetian Condominiums431 AvenuePBrooklyn, NY 11230(718) 971-1675 Office

EXECUTIVE SUMMARY & PORTFOLIO OVERVIEW

431 Avenue P, Brooklyn, NY 11230 | Tel: 718.971-1675 | www.jacohengroup.com

Although all information furnished regarding property for sale, rental or financing is from sources deemed reliable, no express representation is made nor is any implied as to the accuracy thereof and is subject to error,omissions, change of price, rental or other conditions, prior sale, rental or financing or withdrawal without notice. No warranties or representations are made as in the condition of the property of any hazards containedtherein nor are any implied. Rendering pictured in offering materials is not specifically approved for referenced development site. Buildable square footage is subject to verification by purchaser’s own architect and/orzoning attorney.

KINGS PLAZA RETAIL PORTFOLIO

34,000 SF RETAIL PROPERTIES

4105-4107 Avenue U

4113-4123 Avenue U

2484-2488 Flatbush Avenue

4206-4212 Avenue U

4202-4204 Avenue U

4101-4103 Avenue U

Adjacent to a vibrant and bustling retail node at Kings Plaza Shopping Center

PROPERTY SPECIFICATIONS

Neighborhood Marine Park

Block/Lot 08559-0042

Lot Dimensions 100’ x 70'

BuildingSF 7,000

Stories 1

Zoning C8-1

FacilityFAR 2.4

Usable floorarea 7,000

Assessment(2020) $1,323,900

Taxes(2020) $130,334

HARD CORNER 4-WAY INTERSECTION ON 2 RETAIL CORRIDERS


EXCLUSIVE OFFERING

2484-2488 Flatbush Ave

NN LEASE

PROPERTYSPECIFICATIONS



Lot Dimensions 60’ X 70 ‘

BuildingSF 4,200

Stories 1

Zoning C8-1

FacilityFAR 2.4


Assessment(2020) $355,500

Taxes (2020-2021) $36,236

1st Mortgage Delivered Free & Clear


EXCLUSIVE OFFERING

4206 – 4212 Ave U




Lot Dimensions 40’ X 70’

BuildingSF 2,800

Stories 1

Zoning C8-1

FacilityFAR 2.4



Taxes (2020-2021) $15,303



4202—4204 Ave U

EXCLUSIVE OFFERING





BuildingSF 5,500

Stories 2

Zoning R4, C2-2

FacilityFAR 2



Taxes (2020-2021) $31,659



EXCLUSIVE OFFERING

4101—4103 Ave U





Stories 2

Zoning R4, C2-2

Residential/Facility FAR 0.75/2



Taxes (2020-2021) $14,870



Land Parcel Between 4101-4103 Ave U& 4113-4123 Ave U

EXCLUSIVE OFFERING

4105—4107 Ave U





BuildingSF 10,000

Stories 1

Zoning R4,C2-2

FacilityFAR 2



Taxes (2020-2021) $43,551



EXCLUSIVE OFFERING

4113—4123 Ave U

ZONING MAP


4101-4103 Avenue U

R4, C2-2

4105 Avenue U

R4, C2-2

4113-4123 Avenue U R4,

C2-2

2484-2488 Flatbush

Avenue

C8-1

4206-4212 Avenue U

C8-1

4202-4204Avenue U

C8-1

EXCLUSIVE OFFERING

ZONING/TAX MAP

*Note: Data taken from NYC Department of City Planning



4101-4103 Avenue U

R4, C2-2\\

4105 Avenue U

R4, C2-24202-4204Avenue U

C8-1

EXCLUSIVE OFFERING

2484-2488 FLATBUSH AVE


4101-4103 Avenue U

R4, C2-2\\

4105 Avenue U

R4, C2-24202-4204Avenue U

C8-1

EXCLUSIVE OFFERING

4206-4212 AVE U


4101-4103 Avenue U

R4, C2-2\\

4105 Avenue U

R4, C2-24202-4204Avenue U

C8-1

EXCLUSIVE OFFERING

4202-4204 AVE U


4101-4103 Avenue U

R4, C2-2\\

4105 Avenue U

R4, C2-24202-4204Avenue U

C8-1

EXCLUSIVE OFFERING

4101-4103 AVE U


4101-4103 Avenue U

R4, C2-2\\

4105 Avenue U

R4, C2-24202-4204Avenue U

C8-1

EXCLUSIVE OFFERING

4105-4107 AVE U LAND PARCEL


4101-4103 Avenue U

R4, C2-2\\

4105 Avenue U

R4, C2-24202-4204Avenue U

C8-1

EXCLUSIVE OFFERING

4113-4123 AVE U

EXCLUSIVE OFFERING

*Note: Data taken from NYC Department of City Planning

Floor Area Ratio & Air Rights




Marine Park


34,000 SF OF RETAIL PROPERTIES

Marine Park is the name of a neighborhood and the largest public park in the New York City

borough of Brooklyn, that lies between Flatlands and Mill Basin to the east, and Gerritsen

Beach, Midwood, and Sheepshead Bay to the south and west. The neighborhood is mostly

squared off in area by Gerritsen Avenue, Flatbush Avenue, Avenue U and Kings Highway.

The eponymous park is within the neighborhood. The neighborhood is largely made up of

ethnic groups such as Italians, Irish, Greeks, and Jews. The area is part of Brooklyn

Community Board 18. Charles Downing Lay won a silver medal in town planning at the

1936 Olympics for the planning of Marine Park.

The neighborhood also contains a public park of the same name. The park's 530 acres of

grassland and salt marsh surround the westernmost inlet of Jamaica Bay. Most of the

park's land was donated to New York City to be turned into public park land by the Whitney

family in 1920 and by Frederic B. Pratt and Alfred Tredway White, who jointly donated 150

acres in 1917. The land donated consists of the area between the current day Fillmore

Avenue and Gerritsen Avenue and East 38th Street. Originally almost two thousand acres,

over half of which has been donated to the National Park Service as part of the Gateway

National Recreation Area, the park is mainly a fertile salt marsh which is supplied with

freshwater from Gerritsen Creek. Marine Park, surrounded by the neighborhood it is named

after, consists of recreational park areas and the Salt Marsh Nature Center, where myrtle

warblers, grasshopper sparrows, cottontail rabbits, ring-necked pheasants, horseshoe

crabs, and oyster toadfish can be found.

The park used to be a fishing ground for the village of Keshawchqueren. With new land

purchases in the 1930s, the park grew to 1822 acres by 1937. That same year, the Board

of Aldermen named the site "Brooklyn Marine Park".




34,000 SF RETAIL PROPERTIES

CONFIDENTIALITY & CONDITIONS This is a confidential brochure intended solely for your limited use and benefit in

determining whether you desire to express any further interest in 4101-4103 Avenue U, 4105-4107 Avenue U, 4113-4123

Avenue U, 4202-4204 Avenue U, 4206-4212 Avenue U, and 2484-2488 Flatbush Avenue, Brooklyn, NY 11234 (the

“Property”). This brochure has been reviewed by representatives of Forman Realty Management LLC (“Property Manager”),

Forman Coleman LLC, Forman Flatbrook LLC, Forman Marine LLC, Forman Hendruse LLC, Forman Vinard LLC, and

Forman Kings LLC (the "Owner"), and JA Cohen Advisory Group LLC (“JAC”). It contains selected information pertaining to

the Property and does not purport to be all-inclusive or to contain all of the information that prospective purchasers, joint

venture partners, ground lessees, interested party, or transaction partners for any type of transaction (collectively known as

“Purchaser”) may desire. It should be noted that all financial projections are provided for general reference purposes only in

that they are based on assumptions relating to the general economy, competition, and other factors beyond the control of

Owner and JAC and, therefore, are subject to material variation. Additional information and an opportunity to inspect the

Property and plans will be made available to interested and qualified investors. Neither Owner, Property Manager, JAC, nor

any of their respective officers, representatives, nor employees have made any representation or warranty, expressed or

implied, as to the accuracy or completeness of this brochure or any of its contents, and no legal commitments or obligations

shall arise by reason of this brochure or any of its contents. Owner expressly reserves the right, at its sole discretion, to

reject any or all expressions of interest or offers to purchase or transact the Property and/or to terminate discussions with

any Purchaser at any time with or without notice for any reason or for no reason. Owner shall have no legal commitment or

obligation to any Purchaser reviewing this brochure or making an offer to purchase the Property unless and until a written

agreement satisfactory to Owner has been fully executed, mutually signed, delivered, and approved by Owner and any

conditions to Owner obligations thereunder have been satisfied or waived. By receipt of this brochure, you agree that this

brochure and its contents are of a confidential nature and considered Information under the Confidentiality Agreement, that

you hold and treat it in the strictest confidence, and that you will not disclose this brochure or any of its contents to others

without the prior written authorization of Owner, nor will you use this brochure or any of its contents in any fashion or manner

detrimental to the interest of Owner or JAC. It is essential that all parties to real estate transactions be aware of the health,

liability and economic impact of environmental factors on real estate. Neither Owner, Property Manager, nor JAC conducts

investigations or analyses of environmental matters and, accordingly, urges Purchasers to retain qualified environmental

professionals to determine whether hazardous or toxic wastes or substances (such as asbestos, PCBs, and other

contaminants or petrochemical products stored in underground tanks) or other undesirable materials or conditions are

present at the Property and, if so, whether any health danger or other liability exists. Such substances may have been used

in the construction or operation of buildings or may be present as a result of previous activities at the Property. Various laws

and regulations have been enacted at the Federal, State and Local levels dealing with the use, storage, handling, removal,

transport, and disposal of toxic or hazardous wastes and substances. Depending upon past, current, and proposed uses of

the Property, it may be prudent for Purchaser to retain an environmental expert to conduct a site investigation and /or

building inspection. If such substances exist or are contemplated to be used at the Property, special governmental approvals

or permits may be required. In addition, the cost of removal and disposal of such materials may be substantial.

Consequently, legal counsel and technical experts should be consulted by Purchaser where these substances are or may

be present. No representation or warranty is being made by Owner, Property Manager, or JAC with respect to the Property’s

compliance with any applicable statutes, laws, permits, rights, ordinances, rules, regulations, requirements and /or codes

(collectively, the “Laws”). It is expressly understood that it is the responsibility of any Purchaser to investigate whether or not

the Property is in compliance with the Laws and such Purchaser will be relying strictly and solely upon its own inspections

and examinations and the advice and counsel of its own consultants, agents, legal counsel and officers with respect to the

condition of the Property and its compliance with the Laws.

EXLUSIVE OFFERING

CONTACT INFORMATION

Jack A. CohenCEOJA Cohen Advisory Group LLC

Located at the VenetianCondominiums 431 AvenuePBrooklyn, NY 11230(718) 971-1675 Office(917) 533-8905 [email protected]


10/1/20

mailto:[email protected]

EXCLUSIVEOFFERING - LoopNet2020/10/01 · This brochure has been reviewed by representatives of...

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