Schuckman Realty as exclusive agent, is pleased to offer for sale the TNG Portfolio, comprised of Twelve Multi-Family & Mixed-Use properties which have been gut renovated between 2014 and 2017, and are located in the Clinton Hill, Williamsburg, Bedford-Stuyvesant, Bushwick, Ridgewood and Flatbush Neighborhoods of Brooklyn and Queens.
The core of the portfolio is comprised of residential buildings in the 2A and 2B protected tax classes or have tax abatements limiting the exposure of major tax increases, offering a buyer with the ability to capture both the future market rent appreciation as well as the increases to the portfolio’s net rent roll as the rent concessions which were offered during Covid continue to burn-off over the next several months upon natural turnover of the existing leases.
The Properties span a total of 74,691± gross square feet and consists of 77 Units, of which 13 are retail and 64 are residential, totaling 74 (96%) units which are either Fair-Market or Market Rate-Rent Stabilized (Due to a Tax Abatement).
The Portfolio is being offered in full at or in various combinations at $43,630,000 at $584 per square foot. *(Pricing subject to assumption of the existing Loan on six of the properties.)
Please reach out to the Exclusive Brokers for a detailed breakdown of the various purchase options as well as for more information on the assumable debt
Contact Exclusive Brokers:
Properties:
Joseph Rosenfeld
Lic. RE Broker
jrosenfeld@schuyckmanrealty.com
Baruch Edelkopf
Lic. Associate RE Broker
be@schuckmanrealty.com
About Schuckman Realty Inc.: Schuckman Realty is a full service commercial real estate services firm serving New York City, Long Island, New Jersey, and the surrounding tri-state area. The Investment Sales team at Schuckman Realty Inc. brings vast and nuanced market knowledge, insight, and ingenuity to your portfolio from inception to completion. Schuckman Realty offers expertise in determining a property’s best use in terms of value gains to investors, extensive research and vetting process, access to qualified buyers and a proven sales & marketing team with a creative approach to maximize value.
Keywords: Property for Sale, Commercial Real Estate, Investment Sales, Property Sale, Schuckman Realty, Real Estate Sales, Portfolio Sale, Mixed Use Property, Multifamily investing, 1031 Exchange, Multifamily, Multi-family, Mixed-Use
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