Newmark has been retained on an exclusive basis to arrange for the sale of 260 Water Street. The 28,358 SF multifamily building is situated on the south side of Water Street between Bridge and Gold Streets in the highly desirable DUMBO neighborhood of Brooklyn. 260 Water Street is a newly renovated 5-story elevator building that consists of 26 apartments and a parking lot with 17 spaces. A 100% fair market building, the Property achieves impressive residential rents and features a flexible unit mix compromised of one, two, and three-bedroom residences that average 823 square feet. Ideally located on the scenic cobble stone streets of Vinegar Hill in DUMBO, 260 Water Street enjoys a prime location in a neighborhood that epitomizes the borough’s allure of best-in-class restaurants and shopping with a desirable waterfront location. Two blocks from the F train at York Street, residents are only a 10-minute commute to Downtown Manhattan. The offering represents the unique opportunity to acquire a remarkably well-located asset that provides a durable cash flow stream with significant upside through value creation opportunities and the underlying rent growth and expansion of DUMBO, one of New York City’s most sought-after neighborhoods.