6-10 Clark Street

95% Free Market Multifamily Building - One Block From Brooklyn Heights Promenade

6-10 Clark Street, Brooklyn, NY
Asking Price Submit Offers
Type Multifamily
Neighborhood Brooklyn Heights
Properties 1
Lot Size 4,612 SF
Zoning Code R6 / LH-1
Size 19,552 SF
Stories 6 plus cellar
Units 42
Air Rights --

Investment Highlights:

Meridian Investment Sales is pleased to present exclusively for sale 6-10 Clark Street, a 6-story plus cellar, elevator 42-unit building. The 60’ wide building is currently leased until May 31, 2023 to ASA College with 3% increases and used as student housing with 80 beds. Between ASA College, two rent-controlled units, antenna income, and laundry income, the building generates over $1,000,000 of gross annual income. The landlord and tenant each have an early termination option with six months’ notice; therefore, the building offers investors a blank slate with the opportunity for continued use as student housing or reposition to luxury residential units. With efficient unit sizes used as student housing coupled with the prime Brooklyn Heights location, properties of this scale and caliber rarely come to market.

Location:

6-10 Clark Street is located between Columbia Heights and Willow Street

Property Listing Contact:

David Schechtman // Senior Managing Director // 800 3rd Ave., New York, NY // 212.468.5907 // dschechtman@meridiancapital.com

Lipa Lieberman // Managing Director // 800 3rd Ave., New York, NY // 212.468.5908 // llieberman@meridiancapital.com

Abie Kassin // Director // 800 3rd Ave., New York, NY // 212.468.5909 // akassin@meridiancapital.com

Brian Gladstone // Director // 800 3rd Ave., New York, NY // 212.468.5948 // bgladstone@meridiancapital.com