8-10 Clark St
Brooklyn, NY 11201

Multifamily Property For Sale · 42 Units

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

ZONING

Zoning Code R6 (Medium Density Apartment House District)
  • Listing ID: 23770986

  • Date on Market: 7/26/2021

  • Last Updated:

  • Address: 8-10 Clark St, Brooklyn, NY 11201