12 Story, Project-Based Section 8 Building In A Prime Clinton Location
Historic Six (6) Story Elevator Office / Specialty Use Building With Air Rights
The New York City multifamily market in January experienced across-the-board declines compared to the previous month. As the end of 2017 neared, there was a concerted effort in the market to close out transactions that had been slated for the year’s pipeline, causing a surge in overall activity and dollar volume to exceed $1 billion in December. This momentum, however, did not continue into the new year and a general slowdown took hold. Portfolio sales were scant in January and dollar volume fell below $1 billion.
Two Elevatored Multifamily Buildings: 11-15 Broadway & 30-50 21st Street
These large multifamily buildings, located in the prime western Queens neighborhood of Astoria, were built in 2011 and 2012 respectively and benefit from a 421-A tax abatement. Accordingly, all units are rent stabilized, with taxes currently averaging $0.75 per square foot.
Investors Think Big When It Comes To Smaller-Sized Properties in Fort Greene & Clinton Hill
Brooklyn’s investment sales market has been steady thus far in 2018, with a noticeable pickup in bidding activity on active listings and contract signings in recent months indicating an increase in sales. Pay particular attention to Fort Greene and Clinton Hill as we anticipate higher transaction and dollar volume and an uptick in pricing.
Two UES Ground Floor Retail Units:
1439 1st Avenue
This 6,294 square-foot condominium unit is comprised of three (3) commercial units located at the base of a 39-story, 197-unit, luxury residential condo building. The two ground-floor retail units, with approximately 75 feet of wrap-around frontage, are currently rented to The Playroom.