597 Grand AveBrooklyn, NY 11238

For Sale
$51,000,000

149 Units, $51M Asking

Overview

Added:
Dec 11, 2024
Days on market:
95
This exceptional four-building portfolio comprises 149 residential units totaling 148,485 square feet, strategically located in Brooklyn's desirable Clinton Hill and Prospect Heights neighborhoods. The properties are clustered for efficient management, presenting a compelling value-add opportunity. Two buildings benefit from expired J-51 tax abatements, one has a 421-a abatement with four years remaining, and another boasts a J-51 abatement with ten years remaining. The portfolio offers significant scalability and is priced at $51,000,000, or $343.47 per square foot. This rare opportunity allows for acquisition of the entire portfolio or individual buildings. The properties represent a meticulously managed institutional-quality investment in highly sought-after submarkets. The individual addresses are 597 Grand Ave, 471 Vanderbilt Ave, 50 Greene Ave, and 802 Bergen St, all in Brooklyn, NY 11238. This is a unique chance to acquire a substantial multifamily asset with significant upside potential.

Highlights

  • Easy-to-manage property.
  • Value-add potential.
  • Opportunity to acquire value-add multifamily buildings.
  • Scalable investment.
  • Excellent institutional management history.
  • Prime submarket locations.

Property Details for 597 Grand Ave

Property type
Multifamily properties, Apartment buildings
Square Feet
148,485 SF
Units
149

Location Insight

City
Brooklyn
County
Kings
State
New York
Latitude
40.6776687
Longitude
-73.9622505
597 Grand Ave, Brooklyn, New York

FAQs

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597 Grand Ave
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