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RIPCO Markets Hotel Opportunity in DoBro
RIPCO Real Estate has been selected to handle the sale of 291 Livingston St., an investment property in Brooklyn, with a guiding price of $40 million. The asset provides investors with the ability to take advantage of 25-year ICAP eligibility providing significant potential tax savings.
291 Livingston St. is a hotel opportunity located in DoBro. This 22-story hotel will be delivered 80% complete and has plans in place for 104 keys, a full lobby area, ground floor bar and restaurant space and a rooftop bar. The property is centrally located with multiple transportation options including Hoyt Street, Nevis Street, DeKalb Avenue and Atlantic Terminal.
RIPCO’s Stephen R. Preuss and Andreas Efthymiou are handling the sale. “This property is highly desirable because it is located in a high-quality area and offers investors with a building that allows for many creative uses,” said Preuss.
Rendering courtesy of Gene Kaufman Architect.
- ◦Sale/Acquisition
