Auction for Retail Space on Myrtle Avenue in Fort Greene on June 7
This 1,250-square-foot Myrtle Avenue retail space — with an additional 500 feet of basement storage — offers an excellent opportunity on a prime retail corridor.
On June 7, MYC & Associates will auction a spacious retail condominium in the heart of Fort Greene at 364 Myrtle Avenue.
Located on the ground floor of a modern building, this 1,250-square-foot retail space — with an additional 500 square feet of basement space — offers an opportunity on a prime retail corridor, just two blocks away from historic Fort Greene Park and minutes from Flatbush Avenue.
With a projected rent of $72,750, the site is expected to generate nearly $60,000 in net operating income per year, after taxes and maintenance. Its location, in one of the most popular residential and commercial neighborhoods in the borough, is a major part of its appeal.
The site also benefits from local community involvement. The Myrtle Avenue Revitalization Project LDC, the Myrtle Avenue Brooklyn Business Improvement District, and the Myrtle Avenue Merchants Association work together to constantly improve and beautify the area, which has a historical pedigree: Named for Revolutionary War General Nathanael Greene, Fort Greene Park was Brooklyn’s first park. It was designed by Central and Prospect Park designers Frederick Law Olmstead and Calvert Vaux after urging from the area’s most famous resident, Walt Whitman.
Bidding for this Myrtle Avenue retail space auction will take place at 10 a.m. on June 7 at the law offices of Tarter Krinsky & Drogin, LLP at 1350 Broadway, 11th floor, in Manhattan.
How can you get a leg up on the competition before the gavel falls? A deposit of $100,000 is expected for the successful bid, and the minimum bid is to be determined.
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