6900 4th Avenue
Bay Ridge, New York
$9,500,000 Price
- Bedrooms   - Baths

Contract Signed

The subject offering is a 17,542 square foot two-story retail property located on the corner of 4th Avenue and Bay Ridge Avenue (69th Street) in Brooklyn's Bay Ridge neighborhood. Rite Aid Drug Store occupies the ground floor retail space (8,471 square feet). They have been at this location for...

The subject offering is a 17,542 square foot two-story retail property located on the corner of 4th Avenue and Bay Ridge Avenue (69th Street) in Brooklyn's Bay Ridge neighborhood. Rite Aid Drug Store occupies the ground floor retail space (8,471 square feet). They have been at this location for 25 years. Rite Aid just executed their final renewal option, extending their lease through December 2025. Rite Aid has no additional options to renew.

The property is zoned R7B, C2-3, for a total of 26,736 buildable square feet as-of-right.

The second floor is occupied by Maimonides Hospital. Maimonides' space is currently dark, but the tenant has a corporate guaranty on the space. They will continue to pay until their lease expires in March 2022, they have a 3 percent annual increase. Maimonides has the entire 8,771 SF second floor plus a 300 square foot lobby/entrance way on the ground floor. There is an elevator which goes up to the second floor. Both tenants are responsible for their proportionate shares for taxes and insurance. In addition, the hospital is 100 percent responsible for all costs associated with the elevator.

This is an opportunity to acquire a corner retail deal located directly next to the entrance to the subway (R Train- Bay Ridge Avenue Station). In addition, there is true upside in Rite Aid's below-market lease.

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* All information furnished regarding property for sale, rental, financing or estimated mortgage rates is from sources deemed reliable but no warranty or representation is made as to the accuracy thereof. For further financing information, please contact a Brown Harris Stevens agent.

Listing Details

Contract Signed
Bay Ridge, New York
Type: House
Price: $9,500,000
Re Tax: $209,495
Web ID: 20293814

Info & Amenities

Basement: Yes

Map of Area for 6900 4TH AVENUE

Listing Agent(s)

Get to Know Bay Ridge

Nestled along the western edge of Brooklyn, Bay Ridge charms residents and visitors with its picturesque waterfront views and diverse community. Known for its historic architecture and strong sense of community pride, Bay Ridge offers a suburban feel within the urban landscape. The neighborhood's tree-lined streets and parks create an inviting atmosphere for residents of all ages.

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