Industrial & Logistics

271 42nd street

271 42nd St Brooklyn, New York United States 11232-2813
Asking Price
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price
NOI Net Operating Income N/A
Cap Rate N/A

Documents

I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Building Area

Property Description

JLL has been retained on an exclusive basis to arrange for the sale of 271 42nd Street, a 7,620 SF warehouse/ flex office building in the Qualified Opportunity Zone of Sunset Park, Brooklyn. The building spans 3 stories with a 3,000 SF garage on the ground floor and fully furnished offices on upper floors.

Investment Highlights

Ground Floor

3,000 SF with 1 overhead door and 14-foot ceilings.


Upper Floors

Pristine and fully furnished offices on the 2nd and 3rd floors with 2,400 SF and 2,200 SF floor plates respectively. The space also offers conference room and kitchen.


Additional Building Details

Building was erected in 2006 and is fully sprinklered with HVAC and elevator service. Tenants also benefit from roof terrace access.


Tax Benefits

The building may be eligible for a number of tax benefits including the ICAP abatement for commercial improvements


Industrial Business Zones represent the most active industrial areas in New York City, which recent data shows have gained industrial employment consistently since 2010. Policies applying to the IBZs continue to offer targeted support services for industrial firms and attend to area-wide improvements. The designation also provides relocation tax credits to qualifying businesses that locate within an IBZ to direct investment to New York City’s strongest industrial areas.


Opportunity Zones spur private investment and economic development in designated communities by incentivizing investors with deferred or reduced taxes on capital gains tied to the longevity of their investment.

Last Updated Date: 30 Sep 2021
Brendan Maddigan
Brendan Maddigan
Vice Chairman, Capital Markets
License details
NY-10301206472
Stephen Palmese
Stephen Palmese
Vice Chairman
License details
NY-10311208021

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Last Updated Date: 30 Sep 2021

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