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.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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