The Clinton Grand Portfolio

Clinton Hill, Brooklyn, New York 11238

Listing ID Number

25019

Property Description

Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of The Clinton Grand Portfolio, a package of 4 contiguous walk-up multifamily buildings in Clinton Hill, Brooklyn. Spanning over 500’ of frontage along Grand Avenue, Putnam Avenue, and Downing Street, the approximately 123,020 GSF portfolio consists of 126 residential apartments. The unit mix is comprised of 51 one-bedroom, 57 two-bedroom, 12 three bedroom, and 6 four-bedroom apartments. Of the 126 units, 122 units are rent stabilized and 4 are rent controlled. 52 of the 122 rent stabilized units participate in the HPD Home Program, which expires in June, 2018. The property currently benefits from a J-51 Tax abatement until 2033.

The Clinton Grand Portfolio is conveniently positioned with immediate access to the A and C subway stations and a short distance to Atlantic Terminal, providing access to 9 additional subway lines (2,3,4,5,B,D,N,Q,R) and the Long Island Rail Road. In addition to being surrounded by Prospect Park, the Brooklyn Cultural District, and the Barclay’s center; Clinton Hill boasts some the area’s best public schools, dining, shopping, farmer’s markets, and other amenities that continually drive residential demand in the neighborhood, which is currently achieving market rents north of $60/SF.

Overview

Building Type:Apartment Buildings

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

Stephen P. Palmese
Vice Chairman
(718) 307 6552
stephen.palmese@cushwake.com

Thomas Freeland
Associate Director
(718) 606 7021
thomas.freeland@cushwake.com

Robert A. Knakal
Chairman, New York Investment Sales
(212) 660 7777
robert.knakal@cushwake.com

Jonathan Hageman
Executive Managing Director
(212) 660 7773
jonathan.hageman@cushwake.com

James Berluti
Associate Director
(718) 606 7053
james.berluti@cushwake.com

Charlotte Myers
Associate Director
(212) 660 7749
charlotte.myers@cushwake.com


Property Images

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Property Map


Aerial View


The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.