Hot Property: An opportunity grows in Brooklyn

Name: One Hanson Place
Number of Medical Suites: 9
Location: 1 Hanson Place, Brooklyn, N.Y.
Size: 12,396 square feet (nine suites)
Asking Price: $7.975 million
Price Per Square Foot: $643.35
Cap Rate: 8.01%
Occupancy: 100%
Avg. remaining lease term: 5 years
Building Completed: 1927
Seller: Noyack Medical Partners LLC
Tenants: Dentists, oral surgeons, urologist, pediatrics
Broker: CJ Follini, founder and CEO
Brokerage firm: Noyack Medical Partners LLC

BROOKLYN, N.Y. – There is perhaps no hotter real estate market in the country than the area near the ongoing Atlantic Yards mixed-use development in Brooklyn.

There, New York-based Forest City Ratner Cos. is in the midst of developing the multi-year, $4.9 billion, 15-building project on 22 acres that could eventually have more than 6 million square feet of space. Planned are 6,430 residences, 247,000 square feet of retail stores, 336,000 square feet of offices and other uses.

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