Landair Property Advisors has been hired to sell the commercial
building located at 894-896 Manhattan Avenue at the corner of
Greenpoint Avenue. The property consists of a ground floor retail
space leased to Citizens Bank as well as 2 floors of commercial spaces
leased to a variety of businesses. The property consists of 11,025
square spread over 3 levels as well as a full basement. This property
falls under C4-3 zoning on a wide street, allowing for a diverse range of commercial and potential residential development. Currently, the
building is 92.5% leased with 7 commercial tenants, contributing to a
stable and high-performing investment opportunity. The upper floor
rents are significantly below market allowing for a new owner to
increase cash flow without significant investment. Additionally, the
longest lease expires in 2029, allowing for the potential to reposition
the upper floors and appeal to a single credit tenant. Located right in
front of the Greenpoint Avenue G Train subway stop, 894-896
Manhattan Avenue benefits from high pedestrian traffic and excellent
accessibility, enhancing its value as a retail and office destination