NY Times: 4202 2nd Avenue For Sale February 5, 2019

New York Times | February 5, 2019

By Rosalie R. Radomsky

FOR SALE

$9 MILLION

4202 Second Avenue (between 42nd and 43rd Streets)

Sunset Park, Brooklyn

This blocklong, 19,750-square-foot warehouse, in an opportunity zone offering a potential break on capital-gains taxes, features 20-foot ceilings, eight drive-in bays and about 1,000 square feet of office space on the mezzanine level. It also has 20,000 square feet in air rights. Zoning allows for retail, office space or manufacturing uses. The holder of the building’s 49-year triple net lease, set to expire in December 2022, subleases it to two distributors — one of auto parts and another of paper plates, plastic utensils and other disposable dining products.

Seller: Semel Real Estate Properties

Brokers: Erik Yankelovich, GFI Realty Services

 

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