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Follow on Google News | LichtensteinRE Retained as Exclusive Broker to Sell Brooklyn 2 Net leased retail condominium properBy: LichtensteinRE The Retail Units consist of a Medical Radiology Office and a School/Child Day Care containing a total of 8,500 Square Feet, located on the ground floor of a class “A” top quality condominium building built in 2003. These Net lease income properties require little or no expenses to Buyer. The rents rise annually at 3% a year and 421A Tax Abatement is preserved for 5 more years. The lucky buyer should receive a 7% True Cash on Cash Return on Equity Investment (ROE). The scheduled Gross Income for 2016 is $226,212 and the Effective Gross Income is $212,913 this year. The first retail condominium is leased to a radiology center occupying 3,156 sf of space. This successful center offers general digital services like cat scan, MRI, CR (digital X-ray) and women services like bone density testing and ultrasounds. The second condominium is leased to the Brooklyn branch of a Montessori School/ Day Care occupying 5,293 square feet. The Building is located on a very desirable street near shopping, a public library, public and private schools and the Seth Lower Playground/Bealin Square with playgrounds, basketball and handball courts. Additionally, the properties are walking distance to the F and D subway lines and surrounded by public transportation on Bay Parkway and Stillwell Avenue. Finally, the properties have easy access to the Belt Parkway. Like all Brooklyn, the neighborhood is experiencing a real estate boom. ”The Borough has become the “darling” of New York City. In the past, New Yorkers came to Brooklyn because Manhattan was too expensive to afford, but now people come here as a principal destination,” The property is being marketed exclusively by Andrew Lichtenstein, Inc. LichtensteinRE has been actively selling multifamily, mixed use and retail property for its clients in and around New York City. About LichtensteinRE LichtensteinRE specializes in the exclusive sales of multifamily and mixed use commercial real estate properties in New York City’s 5 boroughs. LichtensteinRE is a full service Commercial Real Estate Sales, Financing and Advisory Service Boutique based in New York City, the financial capital of the world. LichtensteinRE’ LichtensteinRE’ End
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