980 Atlantic Avenue, presently a parking garage near Grand Avenue, would like major makeover

http://www.loopnet.com/Listing/18745474/980-Atlantic-Avenue-Brooklyn-NY/

It seems the landlord would like to get a tenant into the first floor space, which is 16,875 SF. The above floors would presumably still be used as a garage or warehouse. 

976 Atlantic, 

978 Atlantic, 

980 Atlantic
982 Atlantic
984 Atlantic

It is a massive building, totaling 65000 sq ft. This firm appears to be handling the upper floors:

http://www.kalmondolgin.com/news/kalmon-dolgin-affiliates-to-exclusively-market-loft-space-at-65600-sf-984-atlantic-avenue-in-brooklyns-prospect-heights/

Here is a rendering of what it could become:



What it presently looks like from the front:
http://goo.gl/maps/J8Mhv

What it presently looks like from the back:

Well that will bring change to Atlantic Ave with foot traffic and more Muni meters. Goodbye auto body shops.

The autoshops in the M1 zone that do not own their property seem to be disappearing very quickly, and morphing into other uses that conform to the zoning: gyms, yoga, art studios, coworking spaces, retail, bars.

The auto shops that DO OWN their properties will hang on a while longer; their owners may realize that on an annual basis they are earning more from appreciation than from fixing cars.

Or they could retool to fix Porsche super cars and Mercedes.

In my view, they are older guys. They are watching their retirement grow via land appreciation, and not putting a lot of $ into their businesses.

My impression isn't that they are going to pass the businesses on to their sons or sell it to another mechanic.

Instead, they will cash out by selling it to someone who will convert into a use that conforms with the zoning and the area's means and preferences.

....needless to say, if the city rezones Atlantic and the M1 Zone into residential, these folks stand to do really well.

Heard on 880AM this morning some triangular gas station lot in Brooklyn sold for $27 million (no typo) to build either a hotel or condos. Didn't say where but I'm thinking somewhere in that area.

This gas station in Downtown Brooklyn might be the one they talked about. It was listed yesterday for $27M:
http://www.crainsnewyork.com/article/20141111/REAL_ESTATE/141119968/downtown-bklyn-mobil-station-hits-market-at-27m

I am interested in seeing how much retail takes hold on Atlantic before its eventual rezoning to residential.

Presently, there are a lot of restaurant supply companies between Vanderbilt and Utica. I expect them to go further east on Atlantic as they are priced out.

Brownstoner featured this building today. They have some good pictures of it:

http://www.brownstoner.com/blog/2015/01/building-of-the-day-984-atlantic-avenue/#comment-1578201

With this big, modern residential building in progress across from it, the above rendering just might become a reality:

http://newyorkyimby.com/2015/02/revealed-929-atlantic-avenue-clinton-hill.html

929 Atlantic Avenue

This thread's building is on the right.   It says "Parking"

Or they could retool to fix Porsche super cars and Mercedes.

I've seen the body shop at Grand and Bergen working on Bentleys and Audis, so there's already some movement in that direction.

Audi isn't exactly a luxury marque.

Anyway, a lot of the auto businesses in the area seem to have been catering to the European car market, but this is definitely a downmarket service for second- and third- hand owners who cannot afford to go to the dealer for service. These autos depreciate rapidly, making them affordable status symbols until it's time to get service, which is where these shops have filled an economic niche.

It looks like they gave up on making this retail;   it is now being pitched as a potential space for a hotel.  

http://www.loopnet.com/Listing/19005468/980-Atlantic-Ave-Brooklyn-NY/

over a year later, still on the market...

http://www.loopnet.com/Listing/18745474/980-Atlantic-Avenue-Brooklyn-NY/

New windows now installed, as well as some other work.  I do not know if tenants have been secured.

photo from google during construction. as well as one I found of it pre-construction