120 Court St
11,360 SF Retail Building Brooklyn, NY 11201 For Sale
INVESTMENT HIGHLIGHTS
- Development opportunity to acquire irreplaceable real estate on the corner of the highly trafficked Atlantic Avenue & Court Street.
EXECUTIVE SUMMARY
Newmark has been retained on an exclusive basis to arrange for the sale of 120 Court Street, Brooklyn, NY 11201 (the “Site,” “Property,” or “Offering”). The 11,360 square foot retail building is located on a 6,000 square foot corner lot on Atlantic Avenue and Court Street and offers 64,500 of residential buildable square feet under the Universal Affordability Preference (“UAP”) within City of Yes.
120 Court Street offers 155' of wraparound frontage with 75' on Atlantic Avenue and 80’ on Court Street, nestled between Brooklyn's most prominent neighborhoods of Brooklyn Heights and Cobble Hill. Currently 100% occupied by Walgreens on a NNN lease through August 31st, 2026. Upon expiration developers will have the outstanding opportunity to develop 57,420 ZFA as-of-right and up to 64,500 ZFA utilizing the UAP bonus under the City of Yes Zoning amendments.
120 Court Street is ideally located at the confluence of Brooklyn Heights and Cobble Hill, encompassing the borough’s allure of best-in-class restaurants and shopping along some of the best retail corridors in Brooklyn. Brooklyn Heights, situated adjacent to Cobble Hill, Boerum Hill, and Carroll Gardens, offers a harmonious blend of upscale city living and a welcoming warm atmosphere that has attracted a wave of new residents to the area over recent years. Further, the property is 3 blocks away from the 2, 3, 4, 5, and R trains at Borough Hall for immediate access to all of NYC.
The offering represents an exceptional development opportunity to acquire irreplaceable real estate on the corner of the highly trafficked Atlantic Avenue & Court Street in Brooklyn Heights. All inquiries should be directed to Newmark.
120 Court Street offers 155' of wraparound frontage with 75' on Atlantic Avenue and 80’ on Court Street, nestled between Brooklyn's most prominent neighborhoods of Brooklyn Heights and Cobble Hill. Currently 100% occupied by Walgreens on a NNN lease through August 31st, 2026. Upon expiration developers will have the outstanding opportunity to develop 57,420 ZFA as-of-right and up to 64,500 ZFA utilizing the UAP bonus under the City of Yes Zoning amendments.
120 Court Street is ideally located at the confluence of Brooklyn Heights and Cobble Hill, encompassing the borough’s allure of best-in-class restaurants and shopping along some of the best retail corridors in Brooklyn. Brooklyn Heights, situated adjacent to Cobble Hill, Boerum Hill, and Carroll Gardens, offers a harmonious blend of upscale city living and a welcoming warm atmosphere that has attracted a wave of new residents to the area over recent years. Further, the property is 3 blocks away from the 2, 3, 4, 5, and R trains at Borough Hall for immediate access to all of NYC.
The offering represents an exceptional development opportunity to acquire irreplaceable real estate on the corner of the highly trafficked Atlantic Avenue & Court Street in Brooklyn Heights. All inquiries should be directed to Newmark.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
11,360 SF
Building Class
C
Year Built
1925
Tenancy
Single
Building Height
2 Stories
Slab To Slab
10’
Building FAR
1.86
Lot Size
0.14 AC
Zoning
C6-2A - Permit a Wide Range of High-Bulk Commercial Uses Requiring a Central Location
Frontage
AMENITIES
- Bus Line
- Metro/Subway
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
-
- Retailer
- -
- -
- -
Walgreens is a trusted and convenient local health destination that millions of Americans rely on every day. Their founder, Charles R. Walgreen Sr., was known for finding new ways to connect with customers on a personal level and treating each person like a guest in his own home. For over a century, they have expanded that personal connection through their network of neighborhood pharmacies and their innovative health services and products. The foundation for all of this is their trusted pharmacy expertise, and their team members who provide essential care that helps people achieve better health outcomes at an affordable cost.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
|
|
Retailer | - | - | - |
Walk Score®
Walker's Paradise (100)
Transit Score®
Rider's Paradise (100)
Bike Score®
Biker's Paradise (93)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 00276-0047 | Improvements Assessment | $1,839,150 |
| Land Assessment | $589,500 | Total Assessment | $2,428,650 |
