New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Avison Team Markets Stuyvesant Heights Rentals
The Tri-State Investment Sales Group for Avison Young is marketing 841 Dekalb Ave., a newly redeveloped, 6,425-square-foot, five-story rental building with eight fair market units located in the Stuyvesant Heights neighborhood of Brooklyn. Asking price is $4.75 million.
The firm’s James Nelson, Brandon Polakoff, Fritz Richter, Alexandra Marolda and Jeremy Stenberg are marketing the property. The newly redeveloped building offers well-appointed apartment units with high-end finishes, private outdoor spaces, oversized windows, and in-unit washer/dryers. It also benefits from an Urban Development Action Area Project (UDAP) tax exemption.
“841 Dekalb Ave. is a first-rate multifamily asset in a desirable Brooklyn location with a favorable tax incentive,” said Polakoff. “We expect strong interest in this premier property from a number of investors as we embark on our strategic marketing campaign.”
UDAAP provides up to a 20-year exemption from real estate taxes on the building’s assessed value. Taxes are assessed solely on land value.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
