The Real Deal New York

McCarren Park portfolio hits market for $25.5M

Owner bought the three-building Brooklyn package for $11M in 2010 and 2012
By Katherine Clarke | March 24, 2014 02:25PM

A three-building Brooklyn portfolio near McCarren Park hit the market asking $25.5 million.

The Williamsburg and Greenpoint package, which comprises properties at 68 Richardson Street, 155 Newton Street and 706-708 Lorimer Street, is being marketed by commercial brokerage Marcus & Millichap.

The owner of the buildings, Richlor Apartments LLC, bought them for close to $11 million in 2010 and 2012.

“The McCarren Park portfolio at $582 per square foot offers an attractive entry point into one of the most desirable and emerging locations in the world” said Shaun Riney of Marcus & Millichap’s Brooklyn office.

The portfolio has a total of 39 units spread between the three buildings. The 32,500-square-foot Richardson Street property has 25 units, while the Newton Street building has eight and the Lorimer Street building has six.