Klosed Properties acquires 6,048 s/f condo building

August 20, 2019 - Front Section

Brooklyn, NY Klosed Properties has acquired 541 Myrtle Ave., a commercial condominium building. The property consists of three retail units combined for a total of 6,048 s/f in the Clinton Hill neighborhood.

The acquisition price has not been disclosed.

“Clinton Hill is our home. We’ve always been comfortable with investing there and will continue to be one of the most active purchasers of property on Myrtle Ave.,” said Ryan Powers-Tapp, managing director with Klosed Properties. “We’ve purchased this property from the sponsor with the original tenants who are currently paying less than half of the avenues average retail rent. With the new pedestrian plaza and Pratt University’s new 10-story 190-unit dormitory going up one block away, we don’t see foot traffic slowing down any time soon on Myrtle Ave.”

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