NEW YORK, NY – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has represented New York REIT, Inc. (NYRT) in the sale of 163 Washington Avenue, a 49-unit, 16-story mixed-use property in Brooklyn’s Clinton Hill neighborhood.
HFF marketed the asset on behalf of NYRT to an undisclosed buyer.
163 Washington Avenue is located near the intersection of Washington and Myrtle Avenues, one block from the Pratt Institute to the south and Brooklyn Queens Expressway/Interstate 278 to the north. Originally developed as condominiums in 2009, the property includes 49 best-in-class rental apartments averaging 825 square feet each, a 1,176-square-foot retail unit and 38 parking spaces. Units feature stainless steel appliances, balconies, loft-style ceilings and cityscape views.
The HFF investment sales team representing the seller was led by managing directors Rob Rizzi, Jeff Julien and Rob Hinckley.
“We are extremely pleased to have assisted NYRT on this disposition. NYRT was at the forefront of the growth of the Brooklyn market, acquiring the property in 2012 and then capitalizing on the impressive pricing we are continuing to see there,” said Rizzi.
About New York REIT, Inc: New York REIT, Inc. (NYRT) is a publicly-traded real estate investment trust listed on the NYSE that acquires income-producing commercial real estate, including office and retail properties, in New York City. Additional information about NYRT can be found on its website at www.nyrt.com. NYRT may disseminate important information regarding it and its operations, including financial information, through social media platforms such as Twitter, Facebook and LinkedIn.
About HFF: HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.