8-10 Clark St
Brooklyn, NY 11201
Multifamily Property For Sale · 42 Units
![8-10 Clark St, Brooklyn, NY for sale - Primary Photo - Image 1 of 4](https://images1.loopnet.com/i2/HKK-l1eW3xEPkFrJaSdchaKPWsbZ13VrThd4Et4LUWk/110/8-10-Clark-St-Brooklyn-NY-Primary-Photo-1-Large.jpg)
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INVESTMENT HIGHLIGHTS
- 95% of the units are Free Market with 41 efficient studio units and a legal two bedroom unit in the cellar
- One block from the entrance of the Brooklyn Heights Promenade and minutes from the Brooklyn Bridge Park
- Rare opportunity to substantially reposition the property and increase revenue in one of Brooklyn’s most desired neighborhoods
- Steps from an abundance of public transportation including the 2, 3, A, and C trains
- Meticulously maintained elevator building with recently upgraded building mechanics and roof
- Ideal candidate for luxury condominium or rental conversion
EXECUTIVE SUMMARY
Meridian Investment Sales is pleased to present exclusively for sale 8-10 Clark Street, a 6-story plus cellar, elevator 42-unit building. The 60’ wide building, which previously served as student housing for ASA College, was recently repositioned as a multifamily property. The building contains 40 Free Market units, 2 Rent Controlled units, antenna income and laundry income. The lease-up of the Free Market apartments commenced in Q3 2020 and there is a near term opportunity to increase rents upon expiration. The building features efficient unit sizes (all but one apartment are studios) and given the prime Brooklyn Heights location, properties of this scale and caliber rarely come to market.
PROPERTY FACTS
Sale Type | Investment |
No. Units | 42 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Mid Rise |
Building Class | B |
Lot Size | 0.11 AC |
Building Size | 19,392 SF |
No. Stories | 6 |
Year Built | 1931 |
UNIT AMENITIES
- Heating
- Kitchen
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Property Manager on Site
- Recycling
- Elevator
UNIT MIX INFORMATION
DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
---|---|---|---|
Studios | 7 | - | - |
1+1 | 27 | - | - |
2+1 | 7 | - | - |
3+2 | 1 | - | - |
PROPERTY TAXES
Parcel Number | 00234-0039 | Improvements Assessment | $1,816,650 |
Land Assessment | $178,200 | Total Assessment | $1,994,850 |
ZONING
Zoning Code | R6 (Medium Density Apartment House District) |