NEW YORK, NY – September 3, 2019 – Ariel Property Advisors has been exclusively retained to sell 100 Livingston Street, a fully leased elevatored office building located at the center of Downtown Brooklyn’s municipal district. The asking price for the 4-story fully occupied building is $12 million.
100 Livingston Street
The 50’ wide property is situated on the south side of Livingston Street between Court Street and Boerum Place, which is at the intersection of Downtown Brooklyn and Brooklyn Heights. The building consists of five office units, all of which have long-term, in-place leases with annual escalations of about 3%. Additionally, operations and management costs are mitigated by substantial tenant reimbursements.
Exclusive agents Sean R. Kelly, Esq., David Khukhashvili and Jiani Zhou are representing the seller.
“This property presents prospective investors with an opportunity to acquire a well-situated office building with high-quality, in-place tenancy and strong cash flow on the border of Brooklyn Heights and Downtown Brooklyn,” said Kelly, a Senior Director at Ariel Property Advisors. “The fact that it is mostly occupied medical tenants makes it especially attractive as the medical industry continues to expand.”
“Additionally, the asset is virtually management free,“ he said.
The location is unparalleled as it is around the corner from Borough Hall.
There are 13 subway lines (A, B, C, D, F, G, N, Q, R, 2, 3, 4, and 5) and the LIRR at Atlantic Terminal just a few minutes away from the building.
Ariel Property Advisors is a commercial real estate services and advisory company located in New York City. The company covers all major commercial asset types throughout the NY metropolitan area, while maintaining a very sharp focus on multifamily, mixed-use and development properties. Ariel’s Research Division produces a variety of market reports that are referenced throughout the industry.
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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 the accuracy of any information provided herein. As an example, all zoning information, buildable footage estimates and indicated uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example, and does not necessarily relate to actual vacancy, if any. The value of this prospective 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 contained herein.