House | 187 Gates Avenue, New York, NY

Massey Knakal Realty Services has been retained on an exclusive basis to arrange for the sale of 187 Gates Avenue. Located in Clinton Hill, this 3,520 square foot brownstone measures an extra-wide 22 feet by 40 feet and is located on the north side of Gates Avenue between Classon Avenue and Downing Street. The building contains four renovated free market apartments: one three bedroom apartment on the ground floor with a separate entrance and three one-anda-half-bedroom apartments on the upper floors. Currently, the building is rented at $28 per square foot, which is below market and provides the opportunity to release units at market rates when the leases come due next year. New ownership will also eventually have the opportunity to convert the building into condominiums or a magnificent single family residence in one of Brooklyns best brownstone neighborhoods. 187 Gates Avenue is steps from many popular Brooklyn restaurants, Barclays Arena, and all that Downtown Brooklyn has to offer. Public transportation is easily accessible by the Franklin Avenue A/C at Fulton Street, or the Washington/Clinton G at Lafayette Avenue. [less]