Press Release brought to you by Cushman & Wakefield Capital Markets Group New York

Massey Knakal Retained Exclusively to Sell 127-Unit Lifestyle Rental Building in Bushwick


Massey Knakal Realty Services has been retained on an exclusive basis to sell Colony 1209, a newly-developed lifestyle rental building at 1209 Dekalb Avenue between Bushwick and Evergreen Avenues in Brooklyn’s Bushwick neighborhood.  The asking price is $81,500,000.

The five-story building contains approximately 119,681 gross square feet and sits on a 200’ x 261.67’ lot.  It consists of 127 residential units, 42 parking spaces, and 11 storage units.  The building offers a vast abundance of amenities, including a full-time doorman, lobby lounge, private gym, screening room, residents lounge with rehearsal studios, pinball arcade, and billiards tables.  Every apartment features hardwood floors, washer/dryer hookups, stainless steel appliances, quartz countertops, and bathrooms with deep soaking tubs.  The landscaped roof deck and courtyard add recreational outdoor space and offer spectacular views of the Brooklyn and Manhattan skylines.  The property benefits from a 15-year 421a tax abatement and is currently in year three.

The property is conveniently located just blocks from the J and M trains and a short distance from the Morgan Avenue L train, connecting tenants to Manhattan in a short subway ride.  Additionally, numerous bus lines service the area.

“Colony 1209 differentiates itself from other new construction buildings in Brooklyn. Easy access to Williamsburg and Manhattan coupled with unique amenities provide for an all-inclusive lifestyle to support both families and young professionals,” said Massey Knakal’s Stephen P. Palmese, who is exclusively marketing this property with Michael Amirkhanian.

11/24/2014 - 11:32


Cushman & Wakefield Capital Markets Group New York

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