Prospect - Lefferts Gardens
07 Sep, 2020
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Marcus & Millichap is pleased to offer the following opportunity located between the emerging submarkets of Prospect Lefferts Gardens and Crown Heights. 329 Sterling Street is located between New York Avenue and Nostrand Avenue and consists of 28 Apartments recently constructed in 2016 just 300 feet from the 2 and 5 train stop at Sterling Street.
15 Year Tax Abatement. The property is currently benefiting from a 15-Year 421-A Tax Abatement which ends in 2032, therefore the opportunity will allow an investor to benefit from rent growth while being protected from large increases in expenses.
The Premier Location: Centered in between two of Brooklyn’s most emerging neighborhoods Crown Heights and Prospect Lefferts Gardens, the neighborhood features plenty of trendy restaurants, cafes, bars and supermarkets. Such as Gruit, the Alenbi, PLG Coffee House, Brooklyn Artisan Bakehouse and Izzy’s BBQ Smokehouse. Additionally, the property is four blocks from Prospect Park and an under 25 minute commute to manhattan. Other new Developments in the area include Hudson’s 310 Clarckson named the Clark, Hello Living’s 270 Lenox and Monian Capital’s 123 Linden boulevard which features lots of high end amenities including an indoor and outdoor pool.
Luxury Amenities: 329 Sterling features a full rooftop with beautiful views, a fitness room, a virtual doorman, a bike rack and parking spaces available in the garage.
High End Finishes: Residences feature oversized full wall windows to maximize sunlight, European white oak flooring, select apartments with private terraces, Italian Carrera Marble Countertops, stainless steel appliances, and modern designed bathrooms.
FREQUENTLY ASKED QUESTIONS
What is the total square footage of 1073 Nostrand Avenue?
1073 Nostrand Avenue totals 3,420 square feet.
When was this property built?
1073 Nostrand Avenue was built in 1925.