A&O portfolio

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Address: 597 Grand Ave, Brooklyn, NY 11238, USA
Created date: June 24, 2024
Date last updated: July 10, 2024
  • Ease in Management
  • Value-Add Opportunity
  • Rare Opportunity to Acquire Value-Add Buildings
  • Scalability
  • Meticulous Institutional Management
  • Highly Desirable Sub-Markets

Property Description

Avison Young, as exclusive agent, is pleased to offer for sale a four-building portfolio (the “Properties”) of multifamily elevator buildings in the heart of Brooklyn’s Clinton Hill and Prospect Heights neighborhoods. The assets are tightly clustered, allowing for a single operator to efficiently manage. The Properties offer a total of one-hundred-and-forty-nine (149) residential units across 148,485± square feet. Of the buildings, two offer expired J-51 Tax Abatements, the third offers an expiring 421-a tax abatement with 4 years remaining, and the fourth property offers a J-51 tax abatement with 10 years remaining. The Properties are being offered together or separately.

Key Property Information

Listing Status: Available
Listing Type: Call for offers
Property Types: Apartment Buildings
Price: $51,000,000
No. of Units: 149
Cap Rate: 5.9%
Year Built: 1900
Year Renovated: 2000
Building Size: 149,000 Sq ft
Lot Size: 0.81 Sq ft
Opportunity Zone: No
Price per unit: $342,282
Property Website Click Here
Address: 597 Grand Ave, Brooklyn, NY 11238, USA
Provided by:

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