CBII Portfolio,
Brooklyn, NY

Description

STERLING PLACE PORTFOLIO

Brooklyn, NY

• Off-Market Portfolio Acquisition Opportunity
• Prime Locations – Nearby Prospect Park
• Irreplaceable Pre-War Buildings
• 6 Properties / 71 Units / 70,378 SF
• 76% Units Free Market
• Rents Approximately 35% Below Market

Constructed between 1908-1925, the Sterling Place Portfolio consists of six (6) separate buildings totaling 71-units (67 residential & 4 commercial) and 70,378 SF located in New York City’s borough of Brooklyn, Kings County, NY (the “Portfolio”). The Portfolio is comprised of: four (4), four-story, multifamily walk-up apartment buildings, one (1) four story mixed residential & commercial building, & one (1) two-story mixed residential & commercial building. The Properties locations include: one (1) building in Park Slope, four (4) buildings in Prospect Heights & one (1) building in the Ditmas Park neighborhood of Brooklyn, NY.

Each building in the Portfolio is located nearby the world famous Prospect Park/Grand Army Plaza/Brooklyn Botanical Gardens grounds, with the closest property being 189 Sterling Place at approximately 500 feet and the furthest being 801 Ocean Avenue at approximately 3,200 feet from the Botanical Gardens. According to the City of New York’s website, the six lots total 26,360 square feet lot (0.60 acres), with a total gross floor area of 70,378 square feet.