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January 08, 2020  

Luxury Brooklyn Rentals Hit Market

American Realty is marketing a luxury apartment building in Brooklyn valued at about $55 million.The 62-unit property, at 111 Kent Avenue in the trendy Williamsburg neighborhood, is 97% occupied. The pitch is that a buyer should be able to raise below-market rents and benefit from anticipated price appreciation.At the estimated value of $887,000/unit, the initial annual yield would be 5%. JLL has the listing.American Realty, a Los Angeles...

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