Cashing in on the arena

whynot_31

This site for sale is on 5th Ave, almost at Flatbush.

The details:

http://www.terracrg.com/setups/32-34_Fifth_Avenue.pdf

The arena proximity pitch:

Retail rents in the immediate vicinity on Flatbush Avenue and Fifth Avenue are driven by the demand for space near the Barclays Center and are expected to exceed $200 per Sq. Ft. New construction luxury developments in the immediate area are achieving residential rents approaching $55 per Sq. Ft..

The Barclays Center is an 18,000 seat arena that is home to the Brooklyn Nets NBA franchise and will host over 250 events in its inaugural year. Pedestrian foot traffic in the area is expected to exceed 3,000,000 per year. In anticipation of the potential foot traffic, retail rents surrounding the Barclays Center have tripled in the last year.