216 23rd Street

Besen Partners, as exclusive agent for ownership, is pleased to offer 216 23rd Street, a free-market, three-family brick residence in Brooklyn’s emerging Greenwood Heights / Park Slope South.  It is presently leased in its entirety on a true triple-net basis to a single, well-capitalized New York City nonprofit on a month-to-month basis.

Given the flexible lease at present and the ability to deliver the building vacant, the subject property offers multiple options: an owner-user can move in entirely or partially and have income, convert to condos or market rate rental; an additional floor can be added as well.

The tenant has occupied the building for eighteen consecutive years and has paid in full on time consistently with no vacancy, no arrears, and no dispute over any renewal, including four straight 10% escalations. Ownership performs no maintenance and carries no operating expense; the tenant pays or reimburses 100% of taxes, insurance, water, sprinkler and upkeep.