The Real Deal New York

Clinton Hill affordable housing complex trades for $11M in cash

October 03, 2012 12:00PM

From left: Bob Knakal and 139 Emerson Place

The 45,670-square-foot, 50-unit affordable housing property located at 139 Emerson Place in Clinton Hill has traded for $11 million in cash, Brownstoner reported. Massey Knakal brokered the deal. The building rises six stories high and has 12 parking spaces. Brownstoner said this marks Massey Knakal’s second affordable-housing sale in the neighborhood so far this year. The property is located in between Myrtle and Willoughby avenues.

The name of the buyer was not disclosed.

Streeteasy shows that a 720-square-foot, one-bedroom, one-bathroom unit in the building was on the rental block for $1,450. The listing has since rented. [Brownstoner]

One Response to “Clinton Hill affordable housing complex trades for $11M in cash”

  1. October 04, 2012 at 10:25 am, Henry Abramov said:

    The buyer is Cara Construction Corp. from Clinton Hill.

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