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December 14, 2021

Listed By: Jade Shenker
Link: serhant.com/listings/3722380

127 12th Street is a prime opportunity for investors, developers, and industrial end-users looking for exceptional value in one of the fastest-growing neighborhoods in Brooklyn. Upcoming rezoning of the surrounding areas will significantly lift market rates across the board, yielding potential dividends for this industrial property down the road.

127 12th Street has M2-1 zoning and occupies a 100 x 175-ft lot. It has a ready-to-use two-story structure with 41,088 sq. ft., 18-ft ceilings, a freight elevator, and new windows and sewer lines. It also has two curb cuts, three loading docks, heavy power access, dual fuel and gas systems, and a 20 x 100 ft. driveway. It is in year 13 of a 25-year ICIP exemption.

Nestled between Park Slope and Carroll Gardens, Gowanus is a burgeoning destination neighborhood with a mix of industrial areas and pedestrian-friendly shopping and dining locales. Well-known names like Loweโ€™s Home Improvement, Whole Foods, Staples, and Royal Palms Shuffleboard Club already call Gowanus home. The F/G/D/R subway lines all serve the area.

The Gowanus rezoning plan calls for a substantial increase of commercial, residential, and community facility spaces to invigorate the neighborhood. Pending approval, the rezoning will bring 8,200 residential units, 696,000 sq. ft. of retail and office space, 251,000 of community facility space, and 6.4 acres of open areas including more than an acre set aside for parks. While 127 12th Street is not part of initial rezoning, buyers can use their own rezoning attorney should they desire to transform the property for non-industrial purposes.

Highlights
New Yorkโ€™s BIGGEST Rezoning in almost a decade.
Value add opportunity in one of New York Cityโ€™s hottest industrial markets. The developments will transform the neighborhood and dramatically reduce the amount of industrial supply in the area.

Gowanus rezoning is expected to deliver 10,000 + new apartments, retail, and office spaces.

39,565 SF usable throughout 2 floors and basement with high ceilings.

Currently in year 13 of a 25 Year ICAP abatement in-place.
Investor, or user opportunity in fastest appreciating neighborhoods in New York City.

Three loading docks, two curb cuts, and a freight elevator that can access all three floors.

20โ€™ x 100โ€™ driveway on the eastern most portion of the property, with access to a curb cut and parking.

Easily accessible as the property is located just several blocks from the 4th Avenue and 9th Street Subway station servicing the F,G and R lines.