confidential offering memorandum · 303 bond street | brooklyn, ny this information has been...

CONFIDENTIALOFFERING MEMORANDUM303 BOND STREET BROOKLYN, NY 11231

$3,250,000� 303 �BOND

303 Bond Street | Brooklyn, NY

CONFIDENTIALITY AND DISCLAIMERThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by

the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of

Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and

to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough

due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the

income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the

property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal

regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any

tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has

been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information

contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation

whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to

verify all of the information set forth herein.

NON-ENDORSEMENT NOTICEMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package.

The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said

corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap,

and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. Â© 2017 Marcus & Millichap. All rights reserved.

JAKUB NOWAKLicensed AssociateRealEstate Broker | (718) 475-4353 | (646) 345-7000

MATTHEW ROSENZWEIGLicensed AssociateRealEstate Broker | (718) 475-4366 | (917) 608-9152

JASON GRUNBERGLicensed AssociateRealEstate Salesperson | (718) 475-4390 | (516) 605-7459

JESSE KAYLicensed AssociateRealEstate Salesperson | (718) 475-4321 | (818) 317-0106

1 Metrotech CenterFloor 20, Brooklyn,NY 11201 | (718) 475-4348 | (718) 228-5281








PROPERTYHIGHLIGHTS

Vacant Single Story Commercial Building Totaling 3,600 SF

Features 48 Feet of Frontage to Bond Street

3,600 SF in additional air rights, based off existing M2-1 zoning. Rezoning may allow additional development opportunity.

Located Three Blocks away from the Union St “R” Subway Station

Building Delivered Completely Vacant

10-Minute Walk to Barclays Arena and Atlantic Terminal

303 BOND STREET BROOKLYN, NY 11231

PROPERTY DESCRIPTION








Nowak+Partners of Marcus & Millichap has been retained on an exclusive basis to arrange the sale of 303 Bond Street, a single story commercial building in between Sackett Street and Union St in the Gowanus section of Brooklyn, NY.

The subject property is built full on a 48 ft x 75 ft M2-1 zoned lot (Block:00431 Lot:0002). The subject property totals 3,600 square feet and has been recently renovated with new systems. The property is currently vacant and will be delivered vacant at the time of sale. With the zoning of the lot, the property is subject to an additional 3,600 square feet as-of-right.

303 Bond Street is located three blocks away from the Union Street "R" subway station. Investors and users have the opportunity to purchase this single story commer-cial building in the popular Gowanus neighborhood where commercial rents and property values remain strong. The purchaser can capitalize on the close proximity to public transportation as well as the opportunity to significantly grow income through the vacancy.








PROPERTYOVERVIEW

Property Address

City

State

Block / Lot

Building SF

Lot Dimensions

Total Lot Size (SF)

Zoning

FAR

Total Buildable SF

Annual Tax Bill

Tax Class

303 Bond Street

Brooklyn

NY

00431-0002

3,600

48 ft x 75 ft

3,600

M2-1

2

7,200

$18,234

4








UNIT TYPE

RETAIL/OFFICEPOTENTIAL LEASE TYPE

NNN LEASEPROJECTED ANNUAL

REVENUE YEAR 1

$144,000

RENT ROLL

Unit

Retail/Office

Monthly Revenue

Annual Revenue

Size

3,600 SF

$/SF

$0

$/SF

$40

Current Rent

$0

$0

$0

Year 1

$12,000

$12,000

$144,000

Status

NNN Lease

LOCATION AND AMENITIES MAP








303 Bond Street

1.

3.

7. 8. 6.

9. 10. 11.

12.

15. 16.

13. 14.

4.

2.

1

2

345

6

7

8

910

11

12 131415

16

17

18

22

2324

19

2021

Union StreetStation

LavanderLake Bar

Gowanus Canal

The BellHouse

17.

18. 19.

20. 21.

22. 23. 24.

365 Bond

PigBeach

5. Douglass and DeGraw Pool

GOWANUS REZONING FRAMEWORK








Income & Expenses

303 Bond St

* SOURCE: Gowanus: A Framework for a Sustainable, Inclusive, Mixed-use Neighborhood. 2018

Canal Corridor | Upper Canal,Mid-Canal, Lower Canal

Leverage the unique nature of the

Canal to create a vibrant, accessible,

resilient and diverse waterfront

esplanade with a mix of uses, including new permanently affordable housing,

commercial, artist and maker space.

The former industrial waterfront is a mix of commercial activity, open air

parking and storage, and light industrial uses interspersed with some vacant

buildings and land. The recently completed 363-365 Bond Street residential

developments are the first new residences along the Canal, and include a

public esplanade, resilient design and community facility space. Connections

across the Canal within these sub-areas are limited, with only three bridges

traversing the waterbody, including one (3rd Street) that allows west-bound

traffic.

Designated as a Superfund site in 2010, the Canal’s remediation and

clean-up of contaminant-contributing upland sites are paramount to the

area’s future. A high water table increases the risk of cross-property

contamination and the cost of remediation and construction. Due to private

waterfront ownership, access and views to the Canal are limited to public

street ends, bridges and the new waterfront esplanades that were recently

constructed.









Looking north from Union Street bridge, Source: Cyclomedia

Looking south from Carroll Street bridge, Source: Cyclomedia

Looking north from 3rd Street bridge, Source: Cyclomedia * SOURCE: Gowanus: A Framework for a Sustainable, Inclusive, Mixed-use Neighborhood. 2018









365 Bond Street Waterfront Esplanade

Carroll Street Bridge

OVERARCHING GOALS

OVERARCHING STRATEGIES

Create a multi-faceted vision for the entire Canal waterfront.

Plan for a continuous waterfront esplanade that would, through incremental development, connect to each other and to adjoining upland areas.

Identify opportunities where larger open spaces may be possible to better diversify the experiences along the Canal.

Support a future waterfront esplanade that enhances resiliency and sustainability efforts in response to the challenges faced from climate change (e.g. sea level rise, equity).

Allow residential development along the Canal, where it is prohibited today, at an appropriate density to create new housing at a mix of incomes, including permanently affordable housing.

Allow and promote a mix of uses, including light industrial, arts-related and commercial uses, on ground floors and second floors to support an active and diverse waterfront and the Gowanus mix.

Establish a Waterfront Access Plan (WAP) that provides details for waterfront access along the Canal when development occurs.

Require all waterfront developments to provide and maintain well-designed public open spaces.

Set design parameters that promote high-quality and resilient open spaces that respond to local geography and needs.

Explore approaches to enhance active uses and resiliency efforts at the street ends.

Require active uses where appropriate along the Canal to enliven and activate it. Explore reductions in parking requirements for residential units, as appropriate.

Identify and pursue strategies to increase the climate and sea level rise resilience of areas adjoining the Canal.

confidential offering memorandum · 303 bond street | brooklyn, ny this information has been...

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