Investment Overview

Marcus & Millichap is pleased to present the Exclusive Listing for 2, newly constructed multifamily buildings (2019) located at 520 Parkside Avenue & 111 Clarkson Avenue in the Prospect Lefferts-Gardens section of Brooklyn, NY. Property Details: 2 Buildings: Parkside (22 Units) | Clarkson (28 Units) | 20 Parking Spaces Amenities: In-Unit W/D, Bike Room, Game Room, Roof Top Terrace, State-of-the-Art Gym, Virtual Doorman, Pet Spa, Lounge, High Speed Internet, Meeting Rooms, Rooftop Grill, Party Space, Skyline Views etc. The DEAL: This is a unique opportunity to own two stunning newly constructed (2019) elevator buildings, back-to-back. Parkside (7-Stories) & Clarkson, (8-stories) with a blend of fireproof steel and brick, located in the sought-after Prospect Lefferts-Gardens neighborhood of Brooklyn, NY. Each unit offers spacious layouts, ranging from studios to three bedrooms, each offering private terraces and high-end finishes, Bosch appliances and in-unit washer and dryer, providing ample living space for tenants. This will keep turnovers low and cashflow high. In addition to the amenities, there are 20 onsite gated parking spaces available for tenants. The property is currently benefitting from a 15-year, 421A Tax Abatement, which ends in 2034. The abatement allows investors to benefit from rent growth while being protected from large increases in expenses. Opportunity for Future Conversion to Condo’s within Prospect Lefferts-Gardens Thriving Condo Market and proximity to Prospect Park & multiple lines of transportation. Condos are currently selling out over $1,100 Per Square Foot in amenity buildings w/ private outdoor space. Location: Nestled on Parkside Ave, this building is surrounded by a vibrant community, offering easy access to Local Shops, Restaurants, Parks, Schools, Hospitals and Recreational Activities. The building's central location provides convenient access to transportation, making commuting a breeze. 2 Blocks to Prospect Park.