UBS Acquires Multifamily Property In Clinton Hill, Brooklyn For $54.18M

The multifamily property located at 531 Myrtle Avenue and 100 Steuben Street in Clinton Hill, Brooklyn has been sold in a closed transaction. The property spans a total of 53,409 square feet and consists of 72 units. The sale price for this transaction was recorded as $54,180,000, resulting in a price per square foot of $1,014. The buyer of the property was UBS, while Greystone Development acted as the seller. The deal was facilitated by the brokers Jeff Julien, Rob Hinckley, and Steven Rutman from JLL.

Summary of transaction details:

• Property Type: Multifamily
• Sale Price: $54,180,000
• Square Footage: 53,409
• Price Per Square Foot: $1,014
• Number of Units: 72
• Buyer: UBS
• Seller: Greystone Development
• Brokers: Jeff Julien, Rob Hinckley, Steven Rutman (JLL)

The sale of this multifamily property in Clinton Hill, Brooklyn, marks an important transaction in the real estate market. The involvement of notable brokers, Jeff Julien, Rob Hinckley, and Steven Rutman from JLL, highlights the expertise and dedication of industry professionals in facilitating successful deals. This transaction demonstrates the ongoing demand for multifamily properties in the area and showcases the confidence of both the buyer, UBS, and the seller, Greystone Development, in the potential of this asset.