Agapito Garcia Real Estate Sales Agents

Perfect corner location to do a small two story "green" shopping mall of commercial condo's since this is the only type of construction that still has the 25 year tax abatement. If you do a small "green" shopping mall you will pick up very close to 100% on your investment, since we can refer you to a "green" construction company that constructs close to $150 per sf. They would put up a green building that has a heat factor of 50 and a building that can withstand winds up to 205MPH! It is a superstructure!! This lot is located one block from Bedford Ave, the main commercial corridor in Williamsburg where space rents for $125 per sf. If you rent a small 1,000sf store on Bedford Ave, it would cost you $125,000 annually and over ten years you would be paying over $1,250,000.00, without escalations. If you sell a square foot of the "green" commercial condo's at $800sf the same 1,000sf store can be sold for $800,000 and be paid off in about 8 years allowing tenant's to build there business and pass it on from generation to generation. If you construct this "green" shopping mall, you will have two floors at 5,833sf per floor plus the basement (additional 5,000sf, giving you over 15,000sf sell able), which would get you back a return of at least $12,000,000.00. The second floor would make amazing restaurant spaces with roof top dining making this an even more desirable property and location. The zoning is M1-2 R6A, giving you an FAR of 3 and the flexibility of ample use for the location. Also perfect for a nice hotel, commercial with condos and even just residential. Block 2366, Lot 21, the lot is 73.83' x 100.25 giving you a footprint of 5,833sf and 17,499 buildable. THEY ARE BUILDING WILLIAMSBURG FIRST MOVIE THEATER JUST ONE BLOCK AWAY

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