Friday, October 23, 2015

HFF represents NYRT in the sale of 163 Washington Avenue in Brooklyn, NY

Rob Rizzi
NEW YORK, NY– Holliday Fenoglio Fowler, L.P. (HFF) announced it has represented New York REIT, Inc. (NYRT) in the sale of 163 Washington Avenue, a 49-unit, 16-story mixed-use property in Brooklyn’s Clinton Hill neighborhood.

HFF marketed the asset on behalf of NYRT to an undisclosed buyer.

163 Washington Avenue is located near the intersection of Washington and Myrtle Avenues, one block from the Pratt Institute to the south and Brooklyn Queens Expressway/Interstate 278 to the north. 

Originally developed as condominiums in 2009, the property includes 49 best-in-class rental apartments averaging 825 square feet each, a 1,176-square-foot retail unit and 38 parking spaces.  Units feature stainless steel appliances, balconies, loft-style ceilings and cityscape views.

The HFF investment sales team representing the seller was led by managing directors Rob Rizzi, Jeff Julien and Rob Hinckley.

“We are extremely pleased to have assisted NYRT on this disposition.  NYRT was at the forefront of the growth of the Brooklyn market, acquiring the property in 2012 and then capitalizing on the impressive pricing we are continuing to see there,” said Rizzi.

 For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 |

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