39 Clifton Pl - Storefront Retail/Residential FOR SALE


Brooklyn, NY 11238- Clinton Hill
$5,200,000 USD
917-721-7072
39 Clifton Pl, Brooklyn, NY for Sale
$5,200,000 USD
Storefront Retail/Residential - FOR SALE
1/33
null | 5.42% Cap Rate

39 Clifton Pl
Brooklyn, NY 11238
Clinton Hill


HIGHLIGHTS

  • This property is 20% leased. Four of the five units will be delivered vacant.
  • Historic corner building with dual addresses and landmarked storefronts
  • Includes two retail units and three residential lofts with original 19th-century details

OVERVIEW

Located on a historic corner at Clifton Place and Grand Avenue in Brooklyn's sought-after Clinton Hill neighborhood, this unique 19th-century building offers exceptional opportunities, Whether you're considering living in one loft and renting the remaining units or considering other options such as a 1031 tax exchange, a condo project, or a high-income generating investment. Currently, the building is a mixed-use property with two retail spaces and three renovated residential loft-style apartments. Spanning 20 feet on Clifton and extending 100 feet around the corner to the lot line, the property originally consisted of two buildings; an Italianate three-story townhouse at 39 Clifton Place, built in 1876 , and later, a two-story carriage house at 290 Grand Avenue. The owners have been meticulous in maintaining its historic facade and they have won awards from NYC Landmarks for its extensive historic renovation of its facade, storefronts and cornices. The residential spaces have been extensively renovated and consist of two 2-bedroom lofts measuring approximately 1,100 sq. ft. each with outdoor spaces, which could be combined if desired. The third unit is an open floor plan loft, about 700 sq. ft., above the carriage house store. The top floor two bedroom loft on the top floor of 39 Clifton, is a classic rambling floor through and has been renovated beautifully with a top of the line galley kitchen, multiple skylights and an Incredible teak 20x20 roof deck immediately off the kitchen. The loft on the 2nd floor of 39 Clifton is also a two bedroom floor through but the layout is different with an open kitchen and island blending into the living room. The apartment has been partially renovated and has a washer/drier, new tiled bath with a tiled shower stall. The front of the loft faces due south and has a roof deck/terrace just off the living room. The third residential space is in the carriage house at 290 Grand Ave but shares an entry way with the other two spaces. It is a true classic loft and has exposed ceiling beams and exposed brick walls. It is perfect for a residential studio, or office/showroom. The corner retail space is about 1100sf in the interior and has a full basement for storage. Entre Nous is the new wine bar, specializing in French wines and French specialties. In the mornings, La Bicyclette has a pop up shop selling breads and other French fare. The wine bar will be the one remaining tenant in the sale of the building. The other retail and three residential will be vacated. The second retail space on the Grand Avenue side retains its two original entry way doors which were restored beautifully along with the historic plate glass storefront. This store will be delivered vacant and would work well as a shop or gallery. It has a full basement for storage. Clifton Place is one of those special Clinton Hill shorter streets, stretching only three blocks, from Classon Avenue to St James Place. This particular block of Clifton between Grand Ave and Lafayette Ave was always a chic outpost with Choice, the neighborhood's original French gourmet restaurant, situated on the corner at Lafayette. All mechanicals are in good working order. Total square footage for both buildings 5800sf. Real Estate Taxes are $26,000.

FOR SALE DETAILS

PRICE

$5,200,000 USD

PRICE/SF

$897 USD /SF

CAP RATE

5.42%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1876

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.05 AC

LAND SF

2,004 SF

ZONING

R6B, C2-4

APN/PARCEL ID

01947-0034

ASK ABOUT THIS PROPERTY

Kathleen PerkinsCompassMore Info
917-721-7072

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Kathleen PerkinsCompassMore Info
917-721-7072

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.