This investment summary is provided for informational purposes only and does not constitute an offer or solicitation to acquire interests in the investment or any related or associated company. Any such offer or solicitation may be made only by means of the confidential Private Placement Memorandum (“Memorandum”) and in accordance with the terms of all applicable securities and other laws. All information contained herein is subject to and qualified by the contents of the Memorandum. As more fully described therein, participation in any securities offering is limited to Accredited Investors. Please contact NRIA Brooklyn II, LLC, a subsidiary of National Realty Investment Advisors, LLC (“Sponsor” or “NRIA”), to inquire about obtaining a copy of the Memorandum.
National Realty Investment Advisors (“NRIA” / “Sponsor”) invites accredited investors to participate in the short-term acquisition, complete renovation, and conversion of a four-unit multifamily property (the “Property”) into a boutique three-unit high-end condominium development, located in the prime Carroll Gardens neighborhood of Brooklyn, NY. The Property is currently under contract, and will be NRIA’s seventh Brooklyn development of similar size & scope since mid-Q2 2016.
The Property is more specifically located between Henry & Clinton, just ≈2.25-miles south of Manhattan, ≈1.3-miles from the Brooklyn Bridge, and within a short-walking distance to numerous subway lines making for an easy commute anywhere in NYC.
The Property is located in a Prime, Urban, Growing area of Brooklyn: NYC’s largest and fastest growing borough (population growth: +5.3%, 2010 – 2015), Brooklyn has over 2.6 million residents, and if it was defined as its own City it would be the 4th largest in the US. The Property is more specifically located within the Carroll Gardens neighborhood of Brooklyn, and is just 2.25 – 2.5-miles from Manhattan, and centrally located within walking distance to public transportation (see Property map). Brooklyn has emerged as an incubator for technology, advertising, media, design, and innovation, which is shown through the (i) ≈120% increase in patent filings in Brooklyn over the last 5-years alone, and (ii) the number of adults with advanced degrees moving to Brooklyn tripling from 2009 to 20131. Population & job growth, shortage of new “affordable” supply, continued household formation, lack of developable air rights in the neighborhood, and interest rates remaining low for the foreseeable future, are all important underlying fundamentals that should continue to drive robust growth for many years to come.
The Property’s entire block has only 32,489sf1 of available air rights, distributed across many buildings, with the largest portion held over a large rent stabilized building on the block.
160 Carroll Street is located in the prime section of Carroll Gardens between Henry & Clinton Streets, and very close to the Brooklyn New School (PS 146) and Carroll Park (NYC Site).
continues to be thought of as one of Brooklyn's top living experiences attracting families, singles, and couples seeking a long-term home (see change in area demographic profile, far right corner).
number of public & private education options (a few listed below), make it an exceptional living environment just outside Manhattan.
School District 15
PS 58, The Carroll School, 0.239-miles
PS 146, Brooklyn New School, 0.163-miles
Continues to be thought of as one of Brooklyn's top living experiences attracting families, singles, and couples seeking a long-term home (see change in area demographic profile, far right corner).
Its central location, charming housing stock,
Number of public & private education options (a few listed below), make it an exceptional living environment just outside Manhattan. School District 15 P.S. 58 The Carroll, 0.311-miles Mary McDowell K- 12, 0.1-mil P.S. 146, 0.135-miles Cobble Hill School of American Studies, 0.148-miles