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

531 Myrtle Avenue, 100 Steuben Street
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This MultiFamily property located in NY was sold for $54,180,000 about 4 years ago. The brokers of the deal were Steven Rutman, Rob Hinckley, and Jeffrey (Jeff) Julien

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.

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Deals
  • Location
    531 Myrtle Ave, Brooklyn, NY 11205, USA531 Myrtle Ave, Brooklyn, NY 11205, USA
  • Sale Price
    $54,180,000$54,180,000
    $101 PPSF$101 PPSF
  • Area
    534,090 SF534,090 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    3 Brokers, 1 Agency3 Brokers, 1 Agency

Agents

Jeffrey (Jeff) Julien

Jeffrey (Jeff) Julien

Deals41
Financed$5.3B

Steven Rutman

Steven Rutman

Deals43
Financed$5.6B

Rob Hinckley

Rob Hinckley

Deals51
Financed$5.2B

Agency

JLL

JLL

Agency
Deals5591
Volume$332.6B

Deal Summary

IMAGE: Jeff Julien, Rob Hinckley, Steven Rutman DATE: 01/24/2020 ADDRESS: 531 Myrtle Avenue, 100 Steuben Street MARKET: Clinton Hill, Brooklyn ASSET TYPE: Multifamily SALE PRICE: $54,180,000 SF: 53,409 PPSF: $1,014 UNITS: 72 PPU: $752,500 SELLER: Greystone Development BUYER: UBS BROKERS: @JLL Jeff Julien, Rob Hinckley, Steven Rutman

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531 Myrtle Avenue, 100 Steuben Street

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