148-150 Clinton Street
Brooklyn, New York
Building
Stats
- Property Type Multifamily - Low-Rise/Garden
- Building size (SF) 15,512
- Price $10,950,000
Overview
Avison Young has been engaged by Ownership to offer for sale 148-150 Clinton Street (“the Property”), two side-by-side four-story buildings located in the highly desirable Brooklyn Heights neighborhood of New York. Designed in the early 20th Century by J. Sarsfield Kennedy, the buildings sit in the Brooklyn Heights Historic District on a prominent corner of Clinton Street and Aitken
Place/Livingston Street and offer 162 feet of wrap-around frontage. The total square footage at the Property is approximately 15,512 SF and there are 23 total units between the two buildings, of which five units have rent stabilized tenants.
Highlights
Tremendous value-add opportunity: free market units, delivered vacant offering day one capital,
Significant property: opportunity to purchase 2 buildings in a supply constrained market
Live-invest opportunity: opportunity to renovate a residential unit or garden style home while collecting additional income
Hot rental market: rents have grown 28% for 1BR, 39% for 2BR and 63% for 3BR units over the last 10 years in Brooklyn Heights
Pristine buildings: 2M invested to maintain buildings since 1993
Strategic location: Brooklyn Bridge Park, Promenade offer 85+ acres of East River waterfront
Efficient unit layouts: property offers 3 1BR units per floor with ability to reconfigure
Rare acquisition opportunity: long-term institutional owner with deep ties to the market and community
Unparalleled transportation access: steps from 2,3,4,5,N,Q,R subway lines
