1002 Brighton Beach AveBrooklyn, NY 11235
Brighton Beach
Prime NYC Chase Bank $714M in Deposits
Overview
Rare opportunity to a cquire a Chase Bank on a 23,479 SF lot with 21 on-site parking spaces in the Brighton Beach neighborhood of Brooklyn, NY. The subject property sits on a four-way intersection of Coney Island Avenue (12,696 vehicles per day) and Brighton Beach Avenue (10,139 vehicles per day).
Investment Highlights
- BRANCH DEPOSITS: Branch holds $714,805,000 as of 6/30/2024
- SECURE, LONG-TERM INCOME: Chase extended their lease for 10 years starting 1/1/2023 with 9% rent increases every three years throughout the term with the last increase lasting 4 years through the end of the lease WITH NO OPTIONS TO RENEW THEREAFTER
- LEASE GUARANTEED: Lease corporately guaranteed by Chase, the largest Bank chain in the United States with over $4.357 trillion in assets
- STRATEGIC LOCATION: Subject property strategically located at a four-way busy signalized intersection and steps from the Brighton Beach subway station (B,Q)
- FUTURE DEVELOPMENT POTENTIAL: Major future development site. Paused application for zoning variance when Chase lease was signed that could bring the total buildable square footage up to 170,000 SF
- NATIONAL NEIGHBORS: Surrounded by national tenants such as 7-Eleven, Bank of America, CitiBank, Dunkin Donuts, Starbucks, and Walgreens. Adjacent to Ocean Luxury Condos (927 Units)
- RELIABLE LOCATION: Dense and stable area with 86,921 people with an average household income of $89,443 within a 1-mile radius
1002 Brighton Beach AveBrooklyn, NY 11235
Sales Team
Listing provided by Revere CRE