17-19 Spencer Street & 468 Flushing Avenue, Brooklyn, NY 11205
- Price $9,800,000
- Property Type Development / Industrial
- Address 17-19 Spencer Street & 468 Flushing Avenue
- City Brooklyn
- State NY
- Zip 11205
- Buildable SF 27,600
- SqFt 10,500
17-19 Spencer Street and 468 Flushing Avenue are located in the South Williamsburg neighborhood of Brooklyn.
17-19 Spencer Street is a warehouse located between Flushing and Park Avenues (Block-Lot: 1716-0018). The block-through property consists of 10,500 square feet of warehouse space and an 800 square foot lot on Walworth Street. The building features 21-foot ceilings, two large freezers, and three roll-up gates. The irregular lot measures 50.5 x 200 ft, totaling 11,300 square feet.
468 Flushing Avenue is a vacant lot located between Spencer and Walworth Streets (Block-Lot: 1716-0025). The lot measures 25 ft x 100 ft, totaling 2,500 square feet. The property features 25 feet of frontage to Flushing Avenue. Flushing Avenue is a growing retail corridor with local retail rents reaching $40/ft.
Combined, the properties feature 27,600 buildable square feet based on M1-2 zoning. This zoning also has a community facility FAR of 4.8 allowing for a much larger potential development. Many local developments have utilized this community facility FAR to maximize building size.