Newly Renovated Multifamily Building in Clinton Hill

139 Clinton Avenue

Clinton Hill

Size 5,479 SF
Cross Streets Myrtle Ave / Park Ave
Opportunity Zone Yes
Subways
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Multifamily 139 Clinton Avenue, Clinton Hill
Matt Trotter
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Overview

TerraCRG has been retained to exclusively represent ownership in the sale of the newly renovated, five-unit multifamily building at 139 Clinton Avenue in Clinton Hill, Brooklyn.
139 Clinton Avenue is located between Park and Myrtle Avenues. The building covers 5,479 SF including the above-ground “basement” level. There is also a cellar. The units have condo-quality finishes. The building comprises four, two bedroom-two bathroom, full-floor units, plus a two bedroom-two bathroom duplex apartment, which takes up the “basement” level and part of the cellar, and also has a private garden. All the units except for the 4th floor unit, which is under construction, are occupied. The 4th floor unit enjoys views of the Manhattan skyline.
Projected gross rents for the building are $288,000 or approximately $54/SF. Projected NOI totals $226,038. The building sits on one half of a 200 ft deep, block-through lot which is currently being subdivided. The rear 90 ft of the lot, which is currently vacant, is being sold separately as a residential development site. This property is also being exclusively marketed by TerraCRG.
139 Clinton Avenue is located outside the Clinton Hill Historical District but inside one of the Qualified Opportunity Zones recently created under the Tax Cuts and Jobs Act of 2017.

Attractions

Several major institutions within a short distance of the building include The Brooklyn Navy Yard, The Pratt Institute, Brooklyn Academy of Music, and Barclays Center. The property also benefits from its proximity to three major retail corridors: Myrtle Avenue, Dekalb Avenue and Fulton Street, which together are home to a wide array of retailers, including both national chains and local stores and a myriad of bars and restaurants, including some of the most acclaimed restaurants in Brooklyn.
The commute to Union Square in Manhattan is only 25 minutes from the Clinton-Washington Avenues subway on Fulton Street, just a few blocks away. And several other stations are within walking distance, including the major hub, Atlantic Avenue-Barclays Center, with the N, Q, R, B, D, 2, 3, 4 and 5 trains as well as the Long Island Railroad.

Brooklyn Navy Yard
BAM
Barclays Center
The Pratt Institutre

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