Ariel Property Advisors (Ariel) has announced the sale of a five-story, 5,483-square-foot multifamily building at 170 Clinton Street in Brooklyn Heights for $4.75 million.
An Ariel team led by Partner Sean R. Kelly, Esq., who was joined by Director Stephen Vorvolakos, Associate Director Nicole Daniggelis, and Associate Julian Montilus, represented the seller.
The nine-unit multifamily property consists of eight one-bedroom units and one spacious two-bedroom, floor-through apartment on the second floor. Two of the units offer convenient backyard access. Delivered vacant, the building is poised for conversion into condominiums by its new owner.
“Our team’s expertise in the multifamily market of Brooklyn Heights proved invaluable in quickly identifying the right pool of prospective buyers,” said Kelly. “Through collaboration with a knowledgeable cooperating broker, we were able to connect with a qualified buyer who offered a premium price of approximately 10% above market value.”
170 Clinton Street is ideally located in the historic Brooklyn Heights neighborhood and steps away from multiple retail and dining options including Trader Joe’s, Barnes & Noble, Urban Outfitters, and Walgreens as well as Dos Toros, Paris Baguette, Joe Coffee, Shake Shack, and Chipotle. The building is also a few blocks away from the Brooklyn Bridge as well as from the Court Street N/R/W train station and Borough Hall 2/3/4/5 train station, providing quick and direct access to Manhattan in under 10 minutes.
