Buy Commercial Space in Brooklyn
We are a small business renting a 800sq ft commercial space in SoHo. Our lease is up next September and we are considering purchasing a commercial space in Brooklyn. We are in the very early research process, but has anyone done this recently? Where does one look for listings? We need to be near a…
We are a small business renting a 800sq ft commercial space in SoHo. Our lease is up next September and we are considering purchasing a commercial space in Brooklyn. We are in the very early research process, but has anyone done this recently? Where does one look for listings? We need to be near a variety of trains and close to Manhattan so downtown seems ideal, or perhaps another transportation hub. Does anyone have any insight or experience with this? Thanks.
What kind of business is it? That would also effect where you should be.
I’m an architect, my lease will be up in the end of June, and I’ve been considering getting out of Manhattan for a space in Brooklyn. Most of my work these last few years has been in areas around the park. If you’re looking to buy a place big enough, I’d be happy to rent out some space, maybe 200 sf or so. I could also help with the initial design and construction of the build-out as part of the agreement.
Please email me off-list if that is of interest.
Jim Hill, RA, LEED AP
Urban Pioneering Architecture
jim@urban-pioneering.com
In Jersey, they have commercial condos, but in NYC that is unusual.
Most opportunities that should appeal to you involve you as thr developer. For instance a three story building on a busy commercial street. You would be landlord to the apartments above, and that, to the degree that it is managed effectively helps dramatically carry the overall…”nut”.
A mixed use property has advantages to you as a commercial user, in that you control your destiny. You are bidding against other prospective purchasers, but to a passive investor, the presence of a good commercial tenant makes or breaks the deal. In your case you already have that good commercial tenant, you.
The downside to you will be the additional responsibilties around being a landlord to others in addition to your own business.
Good Luck
Bruce
Well from a transportation and good foot traffic standpoint Fort Greene has the ideal combination especially the Dekalb avenue corridor…tons of restaurant, a few eclectic stores, and best of all 12 MTA subway lines plus the LIRR.
Myrtle Ave is another option but further from subways.
Other very good areas include Downtown Brooklyn, Boerum Hill, and some stretches of North Park Slope.
Try searching the Massey Knakal Website they are good with commercial RE. Hope this helped.