160 Dikeman StBrooklyn, NY 11231

Property Details for 160 Dikeman St

Year built

2018

Lot size

0.11 AC

Property size (Sq ft)

11,325 SF

Zone code

M2-1

Property type

Office buildings

APN

00574-0035

APU

5740035

Description

This exceptional five-story, 14,532 square foot flex building at 160 Dikeman Street in Brooklyn, NY, presents a unique investment opportunity. Built in 2020, this Class B property boasts a modern design with a steel-clad exterior and is currently vacant. The building features a parking garage/delivery space, a retractable roof deck, and a penthouse offering 360-degree views of the Manhattan, Brooklyn, and New Jersey skylines. Its M2-1 zoning allows for diverse uses, from office and retail to other commercial applications. The asking price is $8,900,000, representing a price per square foot of $612.44 and a pro-forma cap rate of 7.82% with a pro-forma NOI of $695,792. Situated on a 4,999 square foot lot, this 42-foot-wide building is essentially turn-key, requiring only interior build-outs. The property is eligible for several incentives including ICAP, CRT, REAP, QOZ, ECSP, and IBZ, offering significant cost savings and maximizing return on investment. Its location in the thriving Red Hook tech hub, with easy access to the NYC Ferry, provides unparalleled convenience and access to a vibrant community. This property is ideal for owner-users or investors seeking a high-return, versatile commercial space in a rapidly developing area.

• CAP approach

  CAP return

  Valuation

  6%

  $1,872,361

  6.5%

  $1,728,333

  7%

  $1,604,881

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,479,724

  Geo Method

  $1,479,724

• Alternative Use

  Use

  Valuation

  Residential

  $2,143,133

  Hospitality

  $1,963,098

  Educational

  $1,633,275

  Medical

  $1,689,446

  Retail

  $2,540,650

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.6781

Longitude

-74.0151

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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