Adaptive Re-Use Strategies for Brooklyn Properties
If you’re looking to purchase an older building in Brooklyn, there are steps that you can take and strategies that you can use to make the investment a success. When it comes to commercial properties, adaptive reuse refers to changing and renovating the building to suit the needs of the new owner. Frequently, adaptive reuse involves updating and modernizing older buildings. Here are some strategies you can use for Brooklyn properties.
When considering adaptive reuse, it’s ideal to consider the location of the building. If the building is considerably old and needs major renovations and possibly demolition, it’s critical that the cost of the project is carefully considered. Many Brooklyn locations are historical; therefore, dramatically changing the exterior may not be ideal. There needs to be a fine balance between form and function. Many individuals prefer the charm of older buildings regardless of their lack of modern conveniences.
Depending on your business, one location might be better than another. For example, if you’re looking to purchase a structure for your new medical office, a building that is already located in a medical plaza may be ideal to another building that is in a different zoning area. Features, such as available parking stalls and freeway access, are also important when considering location.
Another strategy to consider with adaptive reuse is renovation efforts. When looking for Brooklyn properties, it may be best to find a building that has been used for a similar purpose. For example, if you’re starting a new dental practice, you might be able to find an old building that was previously used for the same purpose. Even though the building may be old-fashioned and needs to be updated with modern conveniences and technology, the general layout of the building is likely to fit your needs.
A final strategy to consider when applying adaptive reuse is building layout. It’s possible that you will find some older buildings that have wide-open space. This type of layout is preferred over buildings with numerous walls and doors that may need to knocked down. If you consider bearing walls that need to stay intact, you could run into problems when trying to modify the layout to fit your needs. You also need to consider the exterior layout.
Adaptive reuse of Brooklyn properties is ideal. Searching for buildings that have a prime location, low renovation costs and desirable layout will help you benefit from adaptive reuse.