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

37,590 sf

Land area gross

9,839 sf

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.