Kings Capital Acquires Brooklyn Multifamily Buildings For $9.6M

Kings Capital Acquisition, led by George Giannapoulos and Jeff Znaty, has acquired a pair of multifamily buildings in Brooklyn Heights for a total sale price of $9,600,000. The properties, located at 148-150 Clinton Street, offer a combined square footage of 15,512. With a price per square foot of $619, the acquisition aligns with Kings Capital's strategy of seeking value-add, development, and redevelopment opportunities in both the boroughs of New York City and multifamily assets in Texas and Florida.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $9,600,000
• Address: 148-150 Clinton Street, Brooklyn
• Market: Brooklyn
• Buyer: Kings Capital Acquisition - George Giannapoulos & Jeff Znaty
• Seller's Representative: James Nelson, Fritz Richter, Noah Kossoff & Joseph Moran - Avison Young

This acquisition provides Kings Capital with an opportunity to capitalize on the properties' favorable location. Situated just steps away from the Borough Hall train station, the buildings offer convenient access to transportation, hospitality options, shopping centers, and the downtown Brooklyn corporate hub. The properties were mostly vacant at the time of closing, allowing Kings Capital to execute its value-add strategy effectively.

Special thanks are extended to all those involved in facilitating a smooth transaction.