Ariel Property Advisors has been exclusively retained to sell 2151 & 2155 Ocean Avenue, a package of two multifamily elevator buildings located in the southern Midwood section of Brooklyn. The asking price for the two eight-story properties is $13 million.
The pair of buildings, which contain 26 rental units spanning 25,461 square feet, are located between Kings Highway and Quentin Road, a vibrant and sought-after location in the borough. Both properties boast laundry rooms and 10 underground parking spaces, while 2155 Ocean Avenue houses two medical office units.
Exclusive agents Alexander McGee, Jonathan Berman and McNally S. Lee are representing the seller, a private owner. The properties are in pristine condition, having been meticulously maintained by the developer. All of the sizable apartments have pristine hardwood floors, new stainless-steel appliances, and spacious balconies. The seventh and eighth floors are duplex apartments with large terraces and spectacular views of Brooklyn as well as the Manhattan skyline.
“These buildings present a rare opportunity for investors to own new construction rental buildings on Ocean Avenue,” said Alexander McGee, director at Ariel Property Advisors. The developer built the properties under the 421-a tax benefit program, with the incentive expiring for 2151 Ocean Avenue & 2155 Ocean Avenue in the years 2027 and 2024, respectively.
The neighborhood of Midwood, traditionally a reliable submarket of Brooklyn, has seen a sizable amount of new residential and retail development in recent years, particularly along Kings Highway. The buildings are situated just one block from a major retail corridor along Kings Highway. In addition, Rite Aid, Subway, TJ-Maxx and Starbucks are all a mere five blocks away, as are the B and Q subway lines at Kings Highway and East 16th Street, allowing residents easy access to other locations throughout the city.
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