12 Story, Project-Based Section 8 Building In A Prime Clinton Location
A package of two large multifamily buildings located in the prime western Queens neighborhood of Astoria
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.
Six Story Hamilton Heights Walk-Up Building:
117 West 142nd Street
Spanning 19,668 gross square feet, the building contains 25 residential units all of which are spacious three-bedroom apartments. The units throughout the building are currently rent-stabilized, providing investors the opportunity to turn units over to free market status.
Hunts Point Commercial Building With Air Rights:
1360 Garrison Avenue
This fully occupied 3-story, 15,400 SF commercial building features floor-through units with excellent natural light and air, curb-cut appeal, and an income producing parking lot on Whittier Street. It consists of 4 commercial tenants including a cell tower leased out to Sprint.
Prime Boerum Hill Corner Mixed-Use Building:
292-294 Atlantic Avenue
The subject property is a 7,500 square foot, 4-story walk-up that features 120’ of prime retail frontage at one of Brooklyn’s most heavily trafficked corners. The building’s 9 units consist of one office space, 3 retail units, 5 free market apartments.