275 Park Avenue ("The Chocolate Factory")
Brickman acquired the fee simple interest in a 176,000 square foot apartment building with retail and office space located at 275 Park Avenue in Brooklyn, NY. The Property is located in Brooklyn’s rapidly gentrifying Clinton Hill / Navy Yard neighborhood and is situated on Park Avenue, bound by Washington Avenue on the east side and Waverly Avenue on the west side. Constructed at the turn of the century, the building was used for many years to manufacture Tootsie Rolls, hence its name, "The Chocolate Factory." The Property consists of 123 residential rental units (128,820 rentable square feet) and 49,200 square feet of commercial space including, 23,600 square feet of retail space, 6,700 square feet of office space, 15,000 square feet of parking (96 spots), 1,500 square feet of laundry facilities and 2,400 square feet of storage space.
Property type: Residential
Investment type: Equity
Size: 176,000 SF
Investment date: August 2014