Brooklyn, NY Meridian Investment Sales, the commercial property sales division of Meridian Capital Group, sold a multifamily property for $5.1 million. Director, Scott Burk, arranged the transaction and represented the buyer. Located at 487 Clinton Ave. in the Clinton Hill neighborhood, the five-story property consists of 20 apartments, spans a total of 9,375 s/f, and features 9,125 s/f of air rights. The building was originally constructed in 1892 and has been maintained. The property consists of 20 studio apartments offering unique layouts, which lends itself perfectly to the needs of the vibrant Clinton Hill market. 487 Clinton Avenue is easily accessible via the C and G train at the Clinton – Washington Avenues stations and enjoys close proximity to a variety of restaurants, shops, and area attractions, including the nearby Barclays Center.
“This castle-like multifamily property is one of the most remarkable buildings in the neighborhood,” said Burk. “Containing a majority of free market units, this architectural gem will appreciate over the long term.”