Mysterious Boarded-Up Building in Park Slope
One reader noticed some “hubbub” at the building next to Park Cafe on 7th Avenue between Berkeley and Union on Saturday. The building has been empty for at least a year and a half, and it caught fire about a year ago, “which caused the Park Cafe fire/security alarm to wail for more than an…
One reader noticed some “hubbub” at the building next to Park Cafe on 7th Avenue between Berkeley and Union on Saturday. The building has been empty for at least a year and a half, and it caught fire about a year ago, “which caused the Park Cafe fire/security alarm to wail for more than an hour in the late evening.” According to the tipster:
The entrance was taped off with yellow police tape, there was some kind of dirt or debris out in front that a guy was cleaning up with a shovel, and there were two detective types with badges in an SUV with blinking lights out front for a while. I don’t know what happened, but it did make me curious about the ownership, and even about the fire.
Anybody know what’s up with this building?
Photo by Syd P
that building is for sale (the boarded up one on the corner that used to be a club or whatever)
501 2nd street.
$5,750,000
A Triple Net Leased mixed use building is avaialble for sale. This 25′ wide building is located in the heart of Park Slope on 7th Avenue. The buyer of this property will have No Landlord Responsibilities as the building is 100% triple net leased to one tenant. The top floor six-room duplex apartment with stunning views is available for personal use or rental by the landlord. Asking Price: $5,750,000
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason
to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an
arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these
estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should
evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.
Triple Net Leased Mixed-Use Building For Sale
501 2nd Street
Park Slope, Brooklyn, N.Y.
ASKING PRICE: $5,750,000
For further information or inspection, please
Location: Northeast corner of 7th
Avenue & 2nd Street
Block: 1076
Lot: 1
Lot/Floor Size: 25′ X 97.83′
(2,446 s.f. approx)
Stories: 5
Building Size: 10,400 s.f. (approx.)
Zoning: R6A with a C1-4 Overlay
Assessment: $223,920 Class 2
R.E. Taxes: $27,757 paid by tenant
Year Built: 1920
Building
Classification: C7
Air Rights: N/A
RENT:
*Current – Year 5 $240,000
Year 6 – Year 10 $270,000
Year 11 – Year 15 $300,000
Year 16 – Year 20 $330,000
Year 21 – Year 25 $360,000
Year 26 – Year 30 $390,000
Year 31 – Year 35 $420,000
Year 36 – Year 40 $450,000
Year 41 – Year 45 $480,000
Year 46 – Year 48 $510,000
* Not Yet Commenced
EXPENSES: NONE
â— Located in the heart of Park Slope on 7th Avenue
◠No Landlord Responsibilities – 100% triple net
leased to one tenant
â— Landlord retains top floor six-room duplex
apartment with stunning views for personal use
or rental
Well, I can’t imagine how much she is losing just by paying the taxes without any income on that property. And she must be turning down offers to sell constantly.
do you mean the bar on the corner of 2nd, on the side with Pinos? i can’t remember what it was called, but it’s been owned by Mrs. Nash for at least 20 years. she’s very sweet, but a bit odd. she didn’t want to pay heat, so it was only open in warm weather (and there were no tenants upstairs). she also owns a building on 2nd between 6th and 7th, in the middle of the block, where she lives.
A much bigger question: what is up with the building that has been abandoned for years on 7th Ave at 2nd St, across from 2nd St Cafe? It used to have a youth-oriented bar with on the ground floor with live music.
It used to be the Hair Concern. It has been vacant for years.