108-110 Baltic St, Brooklyn, NY
March 22, 2018
Selling 16 – units in prime Brooklyn and swapping into 200 units in Oh io Cobble Hill Brooklyn is known for its leafy side-streets where well- healed residents occupy 150-year-old brownstones and high-rent retail corridors resemble Manhattan as much as Brooklyn. In the heart of the neighborhood, 108 and 110 Baltic Street each offer eight residential units with an even mix of free-market and rent-regulated apartments. They are each 6,500 Sq Ft and have been well maintained and professionally managed over the years. Like many private investors, the owner’s strategy has always been to use his property as his retirement fund. Given his intention to leave the workforce in the upcoming years, he scrutinized the financial performance of the buildings. He wondered if he could realize better equity returns by exchanging into new properties. He sought our guidance.