23 UNIT RENTAL BUILDING IN BROOKLYN HEIGHTS! SERHANT. has been engaged by Ownership to offer for 148-150 Clinton Avenue ("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 52 feet of frontage. The total square footage at the Property is approximately 15,512 SF and there are 23 total units between the buildings, of which five are rent stabilized. The unit mix at the Property consists of one and two-bedroom units. 150 Clinton Street offers 6,045 SF with 8 residential units (7 FM and 1 RS). 149 Clinton Street offers 9,467 SF and consists of 13 residential units (11 FM and 2 RS).
There are three additional garden-style apartments located at 20 Aitken Place, two of these are rent stabilized. In addition to the beautiful limestone facade, many of the units feature exposed brick. The units at 20 Aitken place are positioned with one Garden Style home on the rear of 148 Clinton and two Garden Style homes on the lot of 150 Clinton. There is a courtyard and garden at the rear of the properties.
148-150 Clinton provides an investor with a tremendous canvass to bring best-in-class residential units to market for rent. Of the 23 units, 18 of which are Free-Market, having last been renovated in the early 2000's. All of the Free-market units will be delivered vacant. They are currently leased as Student Housing in the $40 P/SF range, providing massive rental upside in a rapidly expanding market. The Property is conveniently located steps from the Borough Hall Subway Station which services the 2 ,3, 4 and 5 trains. The Court Street Station, which is 3-blocks north of the Property services the N, Q and R train lines. The Jay Street Metro Tech Station, which is a 10-minute walk from the Property, services the A, C, F, N, and W subway lines and offers access to the B26, B57, B62 and B67 bus lines. The Brooklyn Heights Promenade, a 1,826 foot long tree-lined pedestrian walkway offering views of the Statue of Liberty, Brooklyn Bridge and the Manhattan Skyline, is less than 10-minutes from the Property on foot.
