10 Nevins Street

Verada, as exclusive agent, is pleased to offer for sale or lease a two-unit, single-story ground-floor retail condominium located at the base of a 147-unit, 28-story residential condominium building. The property is located in the heart of Downtown Brooklyn on Nevins Street, between Fulton and Livingston Streets. The property was completed in 2019 and is currently partially leased to one medical tenant, Cooper Podiatry (8 years remaining lease term). Cooper Podiatry occupies 738 SF, while the remaining 1,926 SF unit is vacant. Both units boast 25’ ft. of glass frontage and 12’ ft. ceilings, with the tenants responsible for their pro-rata share of real estate tax increases in addition to utilities.

The property presents investors with an excellent opportunity to acquire a newly built, partially leased, cash-flowing retail condominium in the heart of Downtown Brooklyn. Medical tenants, such as Cooper Podiatry, benefit from having one of the lowest default rates for any retail use. The property also benefits from a 15-year ICAP abatement with 14 years remaining (10 years abated at 100%, followed by four years of gradual abatement burn-off). 10 Nevins is conveniently located one block from the Dekalb Ave B, D, N, Q, R and the Nevins St 2, 3, 4, 5 subway stations.