March 20, 2017 Comments Off on Bedford-Stuyvesant Lofts Sell for $14M Views: 205 New York News, Outer Boroughs New York

Bedford-Stuyvesant Lofts Sell for $14M

A developer paid $14.2 million for 35 Claver Place, a mixed-use, loft building on the edge of Brooklyn’s Bedford Stuyvesant and Clinton Hill neighborhoods.

“The building has been home to many established and emerging artists over the years,” said Shaun Riney of Marcus & Millichap.

The selling price works out to nearly $1 million per unit. The building includes 13 residential lofts as large as 3,900 square feet, plus two big commercial units with 5,317 square feet and 1,019 square feet.

“There was substantial interest from condo converters, but ultimately, the winning bid came from a developer with an eye towards keeping the building as a rental,” said Jonathan Cypers for Marcus & Millichap.

“The property’s unique configuration, prime location and below-market rents provide the new owner with tremendous upside,” said Riney.

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