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

Massey Knakal Sells Brownstone in Clinton Hill

07/30/2012

A brownstone at 338 Clinton Avenue, located between Lafayette Street and DeKalb Avenue in Brooklyn’s Clinton Hill Historic District, was sold in an all-cash transaction valued at $1,925,000.

The five-story property is approximately 4,593 square feet and sits on a 21’ x 90’ lot. The building was delivered vacant which presented the opportunity for the owner to fully renovate each unit and convert the building into condos. The sale price equates to approximately $419 per square foot.

“This property is ideal for condo conversion.  It is located just blocks from Fort Greene Park and has many of its original details. The condo market in Clinton Hill will benefit from the high demand and competitive pricing of these units,” said Massey Knakal Director of Sales Stephen Palmese.

Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,200 transactions having a market value in excess of $15 billion.

www.masseyknakal.com

07/30/2012 - 10:12

Source

Cushman & Wakefield Capital Markets Group New York

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