97 Grand Avenue & 96 Steuben Street, Brooklyn, NY

Address: 97 Grand Street & 96 Steuben Street, Brooklyn, NY 11249

Description: Built and completed between 2011 and 2014, these two 7-story elevator buildings with 62 apartments and 31 parking spaces have approximately 60,282 SF.

Besen & Associates and MYC & Associates have completed the sale of 97 Grand Ave. and 96 Steuben St. Located in Clinton Hill, the two elevator buildings total 60,282 s/f throughout 62 apartments and 31 indoor parking spaces. Greg Corbin and Miguel Jauregui with Marc Yaverbaum of MYC & Associates handled the $35.25 million sale.

The sale price equates to $584 per s/f, $568,548 per unit, 14.6 GRM and cap rate of 5.1%.

Constructed in 2012, the subject properties benefit from a 421-A tax abatement and are among new-construction buildings.

Located in Prime Clinton Hill, just 6.5 miles from midtown Manhattan, 97 Grand Avenue and 96 Steuben Street are in close proximity to the best of Brooklyn’s retail, restaurant, and entertainment offerings. The two elevator buildings include a total of 60,282± square feet, 62 apartments and 31 indoor parking spaces. Constructed in 2012, the subject properties enjoy the benefits of a 421-A tax abatement and are nestled among eight other new-construction buildings. Both buildings have rooftop lounges featuring unobstructed 360 degree panoramic views of the Brooklyn and Manhattan skylines. The property is 30 minutes from JFK & 22 minutes from LaGuardia Airport.