Crown Heights Residential – $9 Million Multi-Family Portfolio
Posted by LaurelB in Real Estate on 06 25th, 2009
This past Tuesday, the Brooklyn Eagle reported about a portfolio of multi-family properties in Crown Heights with an asking price in excess of $9 million dollars:
Owned by G-way Management, the portfolio comprised 75 residential units and two retail stores in buildings that are all within walking distance of each other and of several major neighborhood attractions, including Medgar Evers College.
At least according to what the listing broker explained to the Brooklyn Eagle, the price is “very reasonable” given the quality of the properties and the rent roll they command. More details on Brooklyn Eagle’s website and in Massey Knakal’s listing.
Any of the properties look familiar? Anyone got the skinny?
Popularity: 2% [?]
ostrand Park serves as a virtual town square for Crown Heights, and to offset the dearth of available resources, Crown Heights is a complex neighborhood. It is a neighborhood of mansions, projects and historic districts. Crown Heights is so much fuller than what is currently available in the media and we wanted to create a space to honor that. Thus, Nostrand Park was born.
Nostrand Park is a program of the Fund for the City of New York.
The first picture is a building on Nostrand. Several long-time businesses on that street have been closed after the building owner(s) started talking about selling. On that side of the street, Wing Lee (takeout Chinese that has been there for over 30 years) is slated to go. Not sure the fate of either of the businesses in the photo. The third looks like the buildings on New York Ave just off St. John’s, but I’m not 100 positive about those.
Aah, I see.
I was pretty sure that the first one was on Nostrand. South side – near EP, right? Couldn’t pinpoint the others though.
I wonder why the mere talk of selling prompted the business owners to leave? A lot of times, commercial leases have clauses in them that keeps the lease in place irrespective of changes in ownership.
There was a shoe repair shop in that area that, I believe was closing. Know what happened with that place?