2801-23 Fillmore Ave

Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of the Marine Park Luxury Rentals complex located at 1865 Burnett Street. The subject property is a residential apartment complex located in the Marine Park neighborhood of southeast Brooklyn. The property consists of a collection of thirteen (13) two-story buildings featuring a total of 144 rental apartments located on three parcels along Burnett Street, Fillmore Avenue and Avenue R. Additionally, the property features eight (8) one-story parking garage buildings, which contain a total of fifty-five (55) indoor and thirty-one (31) outdoor parking spaces and one (1) maintenance shed. Due to extensive deferred maintenance, the building currently carries a vacancy rate of approximately 44.4%, providing a potential purchaser with a unique opportunity to upgrade the property and implement a releasing strategy that will significantly increase revenues. Developed in the 1950’s, this charming collection of brick façade buildings blends in elegantly with the beautiful tree-lined streets of the Marine Park neighborhood. The area has traditionally been a haven for families who are attracted by its suburban charm and attractive cost of living. Residents benefit from being located directly across from the 798-acre Marine Park, the largest park in Brooklyn featuring nature trails, lush gardens, and a variety of recreational facilities including Brooklyn’s largest golf course. Residents also enjoy close proximity to the neighborhood’s main business and retail thoroughfares along Nostrand and Flatbush Avenue. These features combine to offer a truly superior location with attractive amenities that are important to the local residents. As such, this offering represents an exceptional value-add opportunity in one of Brooklyn’s most coveted suburban enclaves.