335 Carroll St, Brooklyn, NY, 11231-5125, US

335 Carroll Street

Description

JLL Capital Markets has been retained on an exclusive basis to arrange the sale of 335 Carroll Street, a five-story free-market multifamily building that boasts new finishes, luxury amenities, and prime Carroll Gardens living. Situated in one of Brooklyn’s hottest neighborhoods, with condo-like amenities, 335 Carroll has capitalized on the increase of residential demand due to its fully free-market nature. Due to its Certificate of Occupancy date, 335 Carroll Street is not subject to Good Cause Eviction, making it extremely unique true free-market product to hit the market. 335 Carroll Street is comprised of massive units averaging ~1,000 SF with elevated ceilings, central AC, sleek appliances, and luxury amenities, plus proximity to bustling Smith Street, Union Street, and Fourth Avenue retail corridors.

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Attributes

Number of units

Building area gross

3,492 m²

Land area gross

914 m²

Parking spaces

Media

Investment Highlights

Rental Growth Potential

Without being subject to Good Cause, an owner can implement market-rate increases (uncapped) and optimize rents to current Carroll Gardens market rate levels immediately.

Tenant Management Flexibility

Ability to non-renew leases for strategic repositioning, unit renovations, or tenant mix optimization without “good cause” restrictions. This includes the strategic plan of a condo conversion.

Capital Improvement Returns

An owner more easily re-capture renovation investments through rent increases, making unit upgrades, and building improvements more financially viable.

Market Positioning

In today’s constrained regulatory environment, this exemption provides a major competitive advantage for maximizing NOI growth, maintaining full operational flexibility for rent increases and lease non-renewal.