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329 Sterling St – Listing Details

329 Sterling St, Brooklyn, NY 11225

  • For Sale $13,400,000
  • Property Type Multi-Family
  • Property Size 21,010 SF
  • Lot Size 0.13 Acre
  • Property Tenancy Multi-Tenant
  • Year Built 2016
  • Date Updated May 19, 2021

Marcus & Millichap is pleased to offer the following opportunity located in Prospect Lefferts Gardens. 329 Sterling Street is located between New York Avenue and Nostrand Avenue, just 300 feet from the 2 and 5 trains at Sterling Street. The property consists of 28 apartments recently constructed in 2016.

THE OPPORTUNITY

15 Year Tax Abatement. The property is currently benefiting from a 15-Year 421-A Tax Abatement which ends in 2032. The abatement allows an investor to benefit from rent growth while being protected from large increases in expenses.

The Premier Location: Centered in between two of Brooklyn’s most emerging neighborhoods Crown Heights and Prospect Lefferts Gardens, the neighborhood features plenty of trendy restaurants, cafes, bars and supermarkets, such as Grüit, Alenbi, PLG Coffee House, Brooklyn Artisan Bakehouse and Izzy’s BBQ Smokehouse. Additionally, the property is four blocks from Prospect Park and less than 25 minutes to Manhattan. Other new Developments in the area include Hudson’s 310 Clarkson named the Clark, Hello Living’s 270 Lenox and Monian Capital’s 123 Linden Boulevard, a 26-story building featuring lots of high-end amenities.

Luxury Amenities: 329 Sterling offers a full rooftop with beautiful views, a fitness room, a virtual doorman, a bike rack and parking spaces available in the garage.

High End Finishes: Residences maximize natural sunlight with oversized full wall windows, and feature European white oak flooring, private terraces, Italian Carrera Marble Countertops, stainless steel appliances, and modern designed bathrooms

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Location

  • Walk Score ® Walker's Paradise (96)
  • Transit Score ® Rider's Paradise (100)
  • Bike Score ® Very Bikeable (80)
Powered by Walk Score ®
  • City Brooklyn, NY
  • Neighborhood Prospect - Lefferts Gardens
  • Zip Code 11225
  • Market Brooklyn

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