COMMON COLIVING PORTFOLIO

Elite ListingMultifamily BrooklynCrown Heights

$5,770,000

Price

5.0%

Cap Rate

5

Units

$288,500

NOI


Property located at COMMON COLIVING PORTFOLIOIc expand

Schuckman Realty, the exclusive listing agent, is excited to represent 117 Albany Avenue and 1287 Sterling Place, two recently renovated brownstones in Crown Heights that are master leased to Common, the leading coliving company.

Each lease bears 3% yearly escalations and owner responsibilities are limited to maintaining property insurance policy, roof, and structure, and paying Base Year taxes.

Common is the leading residential brand and operating platform that designs, leases, and manages multifamily properties that appeal to today's renters. Through smart design and tech-enabled property management, Common delivers exceptional experiences across ten cities and over 4,500 members in coliving, microunit, and traditional apartments. The company is the preferred choice for both residents looking for a stress-free and all-inclusive living environment from a trusted brand, and for real estate owners seeking reliable, above-market returns. The Common platform also includes workforce housing management brand Noah and family-first urban designer and operator Kin. With over 18,500 units signed and under-development and over $110 million in venture capital investment, Common is expanding into 22 cities across the world.

Property Details

Block/Lot:1340, 1371/678
Lot Dimensions 20.0 x 100.0
Lot Area3,553 sq.ft
Zoning: R6
FAR as Built:2.0
Max FAR:4.8

Exclusive Agent

Baruch Edelkopf

Schuckman Realty

Contact AgentView Setup

Sales & Transactions

AddressNeighborhoodBuilding ClassSale PriceSale Date
1030 CARROLL STREETCROWN HEIGHTSD1$18,400,00007/24/2018
686 PARK PLACECROWN HEIGHTSC0$2,355,00007/20/2018
1138 BERGEN STREETCROWN HEIGHTSC0$2,240,00007/19/2018
186 NEW YORK AVENUECROWN HEIGHTSC5$2,270,00007/19/2018
88 UTICA AVENUECROWN HEIGHTSC0$999,99907/19/2018
1308 PACIFIC STREETCROWN HEIGHTSC2$2,072,50007/09/2018
1969 PACIFIC STREETCROWN HEIGHTSC0$810,00007/06/2018
1260 PROSPECT PLACECROWN HEIGHTSC0$999,66707/05/2018
1314 STERLING PLACECROWN HEIGHTSC2$1,100,00006/22/2018
826 CROWN STREETCROWN HEIGHTSD1$11,450,00006/22/2018