Updated 6 years ago
Sold
388 Clinton Ave
Clinton Hill, Brooklyn | Gates Ave & Greene Ave
20 Rooms7 Beds3.5 Baths6,600 Square FeetMixed Use
$4,200,000
floors / apts4 / 2
Lot Size24'2"x100'
Built Size24'x50'
ZoneR6B
Building TypeLow-Rise
RE Taxes$9,372
Price Per SF
$636
This property was sold for $4,200,000 on 02/27/20.
Outdoor space and views
- Terrace
Building Amenities
- Voice Intercom
Property Description for 388 Clinton Ave
388 Clinton Avenue is a massive, approximately 6600 square foot brick building on one of the most desirable blocks of Clinton Hill's famed Clinton Avenue. This building is a coveted 5 story, 24' wide property which is currently configured as a triplex over a high-income 3-bedroom rental, over an office which occupies the entire first floor and cellar. It has been fully renovated with updated mechanicals and finishes and it will be delivered with the triplex vacant.
The 3 bed/2 bath rental unit and the office will be delivered with leases in place paying a combined $11,800 per month. The triplex will be delivered vacant and has 5 bedrooms, 4 baths, and a huge private terrace. It will make a superb home or it could be a very high-income rental.
A property like this is rare and offers many opportunities to either an investor or end-user. As a straight investment property, this building is being offered at approximately a 5.5% cap rate. For an end-user who chooses to live in the triplex, the income from the office and floor through pay off perhaps the entire mortgage.
Located in the most desirable part of Clinton Hill very close to the A, C trains, Fort Greene Park, Barclays Center, BAM, Pratt Institute, and superb shopping and nightlife on Fulton Street and Dekalb Avenue.
The 3 bed/2 bath rental unit and the office will be delivered with leases in place paying a combined $11,800 per month. The triplex will be delivered vacant and has 5 bedrooms, 4 baths, and a huge private terrace. It will make a superb home or it could be a very high-income rental.
A property like this is rare and offers many opportunities to either an investor or end-user. As a straight investment property, this building is being offered at approximately a 5.5% cap rate. For an end-user who chooses to live in the triplex, the income from the office and floor through pay off perhaps the entire mortgage.
Located in the most desirable part of Clinton Hill very close to the A, C trains, Fort Greene Park, Barclays Center, BAM, Pratt Institute, and superb shopping and nightlife on Fulton Street and Dekalb Avenue.
Listing History for 388 Clinton Ave
Now
02/27/2020
$4,200,000
Sold and Closed by Alexander Maroni
Douglas Elliman
2020
Building Details for 388 Clinton Ave
OwnershipMixed Use
Building TypeLow-Rise
Service LevelVoice Intercom
AgePost-War
AccessWalk-up
Floors/Apts4/2
Transit and Citi Bike
Subway
Clinton-Washington Avs
0.1 miles
Clinton-Washington Avs
0.27 miles
Lafayette Av
0.33 miles
Fulton St
0.4 miles
Classon Av
0.43 miles
Railroad
Atlantic TerminalLong Island Rail Road
0.47 miles
Citi Bike
Washington Ave & Greene Ave
0.11 miles
Clermont Ave & Lafayette Ave
0.12 miles
Clinton Hill | Brooklyn
Quick Profile
Tucked behind the Brooklyn Navy Yard in central Brooklyn is the quiet residential neighborhood of Clinton Hill. Once a strictly working-class neighborhood, Clinton Hill has become known for its elegant brownstones and stately mansions that were built as Manhattanites crossed the East River in the 1920s in search of the supposed health benefits that came from living “on the hill,” which has an elevation of 95 feet. Now you will also find newer luxury apartment and condo buildings interspersed throughout the neighborhood.
The Pratt Institute and St. Joseph College give the area a certain energy that comes from having a college in your town, while it’s leafy streets, some with their original cobblestones, and slower pace attract young families. Millennials and professionals are flocking to Clinton Hill in search of a reasonably priced neighborhood that offers both nightlife and an easy commute to Manhattan. Clinton Hill is a beautiful neighborhood with a suburban feel and firm roots in its past that also offers plenty of urban amenities.
New businesses are showing up in Clinton Hill on a regular basis, adding to the current proliferation of coffee shops, restaurants, and bars. As the population changes, new entertainment and nightlife venues are migrating to the area to meet the demand. Barclays Center is within easy walking distance, offering exciting sporting events and concerts.
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 76841TH
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