The Reel

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A blog for breaking sales and neighborhood real estate news.

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.

Click here for press release

Neighborhoods: Clinton Hill/ Agents: Stephen Palmese