Cushman & Wakefield Retained Exclusively to Sell the Duke Properties Brooklyn Portfolio - Five Properties in Bedford-Stuyvesant, Crown Heights, and Bushwick
Cushman & Wakefield has been retained on an exclusive basis to sell the Duke Properties Brooklyn Portfolio, consisting of four multifamily and one mixed-use building in Brooklyn. The asking price is $18,000,000.
The five brick and limestone walkup buildings are located at 29 Brooklyn Avenue, 137 MacDonough Street, and 235 Malcolm X Boulevard in Bedford-Stuyvesant, 1509 Pacific Avenue in Crown Heights and 300 Palmetto Street in Bushwick. The buildings total 49 apartments and two stores - 27 of the 51 units will be delivered vacant or renovated, presenting buyers with significant upside in rents. All five properties are close to public transportation, providing convenient access to Downtown Brooklyn, Williamsburg, and Manhattan within 25 minutes.
“With average rents of stabilized apartments at less than a third of market, this portfolio offers a rare combination of scale with real upside across one of the fastest growing markets in New York City,” said Cushman & Wakefield’s Michael Amirkhanian, who is exclusively marketing this portfolio.