brooklyn heights · the twelve units are free market, another six are rent stabilized and one unit...
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BROOKLYNHEIGHTS12 Clark Street
OWNED BY SAME FAMILY SINCE 1952
This Memorandum has been prepared by Agent for use by a limited number of
parties, and does not purport to provide a necessarily accurate summary of the
Property or any of the documents related thereto, nor does it purport to be all-
inclusive or to contain all of the information which prospective investors may need
or desire. All projections have been development by Seller and Agent, and
designated sources, and are based upon assumptions relating to the general
economy, competition and other factors beyond the control of Seller, and
therefore are subject to variation. No representation is made by Seller or Agent as
to the accuracy or completeness of the information contained herein, and nothing
contained herein is, or shall be relied on as, a promise or representation as to the
future performance of the Property. Although the information contained herein is
believed to be correct, Seller, Seller’s agents, attorneys, representatives, and its
employees, disclaim any responsibility for inaccuracies, and expect prospective
purchasers to exercise independent due diligence in verifying all such information.
Further, Agent, Seller and their respective employees, disclaim any and all liability
for representations and warranties, expressed and implied, contained in, or for
omission from, this Memorandum, or any other written or oral communication
transmitted or made available to the recipient. The Memorandum does not
constitute a representation that the business or affairs of the Property or Seller since
the of preparation (12/18) of this Memorandum have remained the same. Analysis
and verification of the information contained in the Memorandum are solely the
responsibility of the prospective purchaser.
Additional information and an opportunity to inspect the Property will be made
available upon the written request of interested and qualified prospective
purchasers.
Seller and Agent each expressly reserve the right, at their sole discretion, to reject
any or all expressions of interest or offers regarding the Property, and/or terminate
discussions with any party at any time with or without notice. Seller reserves the right
to change the timing and procedures for the Offering process at any time in Seller’s
sole discretion. Seller shall have no legal commitment or obligations to any party
reviewing this Memorandum, or making an offer to purchase the Property, unless
and until such offer is approved by Seller, a written agreement for the purchase of
the Property has been fully executed and delivered by Seller and the Purchaser
thereunder.
This Memorandum and the contents, except such information which is a matter of
public record or is provided in sources available to the public, are of confidential
nature. By accepting this Memorandum, you agree that you will hold and treat it in
the strictest confidence, that you will not photocopy or duplicate it, that you will
not disclose this Memorandum or any of the contents to any other entity (except to
outside advisors retained by you, if necessary, for your determination of whether or
not to make a proposal and from whom you have obtained an agreement of
confidentiality) without the prior written authorization of Seller or Agent, and that
you will not use this Memorandum or any of the contents in any fashion or manner
detrimental to the interest of Seller or Agent.
DISCLAIMER
FOR MORE
INFORMATION
S. David Behin, Esq.Executive Managing Director
OFFERING
PROCESS
EXCLUSIVE REPRESENTATIONNewmark Knight Frank has beenexclusively retained to represent theSeller in the sale of 12 Clark Street(“Property”). All inquiries about theOffering for the Property should bedirected to the Newmark Knight FrankMarketing Team.
PROPERTY TOURSProspective purchasers will have theopportunity to visit the Property onscheduled tour dates and must beaccompanied by a representative ofNewmark Knight Frank. Prospectivepurchasers should not contact the sitestaff directly.
OFFER SUBMISSIONOffers should be presented in the formof a non-binding Letter of Intent,specifying the terms and conditions ofthe offer including, but not limited to:
1. Price2. Inspection Period3. Earnest Money Deposit4. Closing5. Buyer Qualifications
FOR FINANCING
Ari SchwartzbardSenior Managing Director
EXECUTIVE
SUMMARY
3
Newmark Knight Frank has been retained on an exclusive basis to
arrange for the sale of 12 Clark Street in the Brooklyn Heights
neighborhood of Brooklyn. Owned by the same family since 1952,
the Property is a 6-story, 13-unit multifamily building at the corner of
Clark Street and Willow Street, located in one of the most affluent
and historic neighborhoods of Brooklyn. Neighbored by DUMBO and
Downtown Brooklyn, Brooklyn Heights is home to the Brooklyn
Historical Society, the St. George Hotel, which was once New York
City's largest hotel, and Brooklyn Bridge Park, which includes six piers
of outdoor activity and the Fulton Ferry Landing.
12 Clark Street is comprised of four 1-bedroom units, five 2-bedroom
units, three 3-bedroom units and one 4-bedroom unit. Currently, six of
the twelve units are free market, another six are rent stabilized and
one unit is rent controlled. The lot is approximately 3,917 square feet
and the building is approximately 17,184 square feet. With an FAR of
2.43, the Property is overbuilt.
Surrounded by breathtaking views of Lower Manhattan and quiet,
tree-lined, brownstone streets, 12 Clark Street is ideally situated right
in between the Promenade, a walkway about five blocks long
overlooking the New York Harbor, and the Clark Street Station, with
the 2 and 3 trains, making the commute among the shortest to
Manhattan. The Property is also located three blocks from the High
Street Station with the A and C trains and is within walking distance
to the Court Street Station with the N and R trains. Commuters to
Manhattan can also take advantage of the ferry at the nearby pier
as well as several buses that connect the neighborhood to other
parts of the borough.
NEIGHBORHOOD
TENANT DEMAND
DRIVER
SUPERIOR
VIEWS
FAVORABLE
DEMOGRAPHICS
EXCEPTIONAL
TRANSIT
OWNED BY THE
SAME FAMILY
SINCE 1952
TREMENDOUS
VALUE-ADD
OPPORTUNITY
PROPERTY
OVERVIEW
NEIGHBORHOOD:
CROSS STREETS:
BLOCK & LOT:
LOT DIMENSIONS:
LOT SF:
BUILDING DIMENSIONS:
BUILDING SF:
STORIES:
UNITS:
UNIT MIX:
ZONING:
FAR:
AIR RIGHTS:
Brooklyn Heights
Columbia heights &Willow street
234-43
100’ x 40’
3,917
77’ x 39’
17,184
6
13
(4) 1 BEDROOM(5) 2 BEDROOM(3) 3 BEDROOM(1) 4 BEDROOM
R6
2.43
overbuilt
12 Clark Street,
Brooklyn, NY 11201
5
6
21
LOCATION OVERVIEW
New York CityHEADQUARTERS125 Park AvenueNew York, NY 10017
Brooklyn55 Prospect StreetBrooklyn, NY 11201
Africa
Botswana
Kenya
Malawi
Nigeria
South Africa
Tanzania
Uganda
Zambia
Zimbabwe
Middle East
Saudi Arabia
United Arab Emirates
Latin America
Argentina
Brazil
Chile
Colombia
Mexico
Peru
Puerto Rico
Asia-Pacific
Australia
Cambodia
China
Hong Kong
India
Indonesia
Japan
Malaysia
New Zealand
Singapore
South Korea
Taiwan
Thailand
North America
Canada
United States
Europe
Austria
Belgium
Czech Republic
France
Germany
Ireland
Italy
Netherlands
Poland
Portugal
Romania
Russia
Spain
Switzerland
United Kingdom
S. David Behin, Esq.Executive Managing Director 212.372.2075 [email protected]