Brooklyn, NY The Corbin Group at Besen & Associates and MYC & Associates have completed the sale of 97 Grand Ave. and 96 Steuben St. Located in Clinton Hill, the two elevator buildings total 60,282 s/f throughout 62 apartments and 31 indoor parking spaces. Greg Corbin and Miguel Jauregui with Marc Yaverbaum of MYC & Associates handled the $35.25 million sale.
The sale price equates to $584 per s/f, $568,548 per unit, 14.6 GRM and cap rate of 5.1%.
Constructed in 2012, the subject properties benefit from a 421-A tax abatement and are among new-construction buildings.