Property of the Month: The Corbin Group at Besen & Associates with MYC & Assoc. set June 6th bankruptcy auction for two Brooklyn elevator buildings totaling 60,000 s/f: 62 apartments, and 21 parking spaces

May 16, 2017 - Front Section

Brooklyn, NY The Corbin Group at Besen & Associates and MYC & Associates are marketing a rare opportunity to purchase two newly constructed elevator buildings out of bankruptcy.

 Located in Clinton Hill, six miles from Midtown Manhattan, 97 Grand Ave. and 96 Steuben St. are close to the best of the borough’s retail, restaurants, and entertainment.

The two elevator buildings include a total of over 60,000 s/f, 62 apartments, 31 indoor parking spaces and feature communal rooftop lounges with unobstructed, 360° panoramic views of the Clinton Hill and Manhattan skylines.

Constructed in 2012, the properties enjoy the benefits of a 421-a tax-abatement and are among eight other new developments that range from high-end retail to luxury condo and rental buildings.

The bid deadline has been set for June 1, 2017 at 12:00 p.m. and the auction date will be June 6, 2017 at 11:00 a.m. The opening bid is $35.85 million and the auction location will take place at the law offices of Tarter Krinsky & Drogin, LLP located at 1350 Broadway, 11th floor, New York, NY 10018. This sale is subject to approval by the US Bankruptcy Court for the Southern District of New York pursuant to Section 363 of the Bankruptcy Code.

97 Grand and 96 Steuben are over 95% occupied and located 30 minutes to JFK, 22 minutes to LaGuardia Airport, and 30 minutes to Wall St.

Clinton Hill is just south of Williamsburg and east of downtown Brooklyn. Celebrated for its diversity, restaurants, and activities, Clinton Hill caters to Pratt Institute students and ambitious professionals alike.