Last week, The Real Deal reported that 266 Washington Avenue in Clinton Hill recently changed hands for $20 million. The buyer? Dermot Realty. Built in 1928, the 114-unit building has an additional 38,689 square feet of developable air rights. Brokers on the deal were Marcus & Millichap and GFI. Anyone know what kind of rentals these are now? Is there much rent control and/or rent stabilization in the building? The big question is what they will be able to do with those air rights in a landmarked district.
Brooklyn Apartment Building Sells for $20M [The Real Deal] GMAP
266 Washington Avenue Sells for $20 Mio [Set Speed]