A mixed-use building at 411 Myrtle Avenue, located between Vanderbilt and Clinton Avenues in Brooklyn’s Clinton Hill, was sold in an all-cash transaction valued at $1,450,000.
The four-story building is approximately 4,620 square feet and sits on a 20’ x 82’ lot, with approximately 1,038 square feet of air rights. There are three residential units and one retail unit. The sale price equates to approximately $308 per square foot.
“This is the 10th property Massey Knakal has sold along Myrtle Avenue since 2010 and it is because residential and commercial rents have increased by 25% - 30%, respectively, in the past 30 months,” said Massey Knakal Director of Sales Stephen Palmese, who exclusively handled this transaction with First Vice President of Sales Guthrie Garvin.
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Neighborhoods: Clinton Hill/ Agents: Stephen Palmese