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# Avenue U Commercial Building On The Market For $12M
- URL: https://bklyner.com/avenue-u-commercial-building-market-12m-sheepshead-bay/
- Published: 2014-08-05T17:40:10.000Z
- Updated: 2014-08-05T17:14:38.000Z
- Author: Ned Berke
- Tags: 1926 ave u, 1928 ave u, 1930 ave u, 2560 ocean ave, gfi realty services, irongate realty partners, #API-Imported

![Source: Google Maps](/content/images/wp-content/uploads/2014/08/investors-585x430.jpg)

Source: Google Maps

The corner property at Avenue U and Ocean Avenue, home to Investors Bank, has hit the market for $12 million, [according to](http://commercialobserver.com/2014/07/sheepshead-commercial-building-hits-market-at-12m/?ref=bklyner.com) Commercial Observer.

The building, at 1926 Avenue U, is described by the outlet:

> The building’s 17,280 rentable square feet, ranging from the basement and ground-level retail to two spaces on both the second and third floors, are currently occupied with the exception of one 2,200-square-foot space on the third floor, according to a marketing brochure from GFI Realty Services, which has been named the exclusive sales agent for the property.

The building appears to also have the address 1928-30 Avenue U and 2560 Ocean Avenue.

Aside from Investors Bank, which we learn pays $22,000 a month to the landlord, the building also currently has three medical tenants. The ground floor location has been a bank in one form or another since at least the 1980s.

GFI is the same group behind the [$39.5 million sale of 1125 Banner Avenue](/glitzy-banner-ave-apartment-building-sold-for-39-5m/), a residential property that had its share of troubles before the company’s development wing, Irongate Realty Partners, [purchased it ](http://commercialobserver.com/2014/03/gfi-sells-sheepshead-bay-apartment-buildings-for-39-5m/?ref=bklyner.com)and turned it around.

Commercial Observer doesn’t share information about the owner, but property records on [Property Shark](http://www.propertyshark.com/mason/Property-Report/?propkey=625456&ref=bklyner.com) appear to indicate it was purchased by 2560 Ocean Realty Corp in 1998 and has suffered through a few tax liens.