A Neglected Sheepshead Bay Rental Thrives

Located in Brooklyn’s Sheepshead Bay neighborhood, 1125 Banner Avenue and 2750 East 12th are adjacent properties that collectively contain 102 rental units. Originally conceived as condominiums, Hudson acquired the properties in March 2014 after trading ownership several times and being impacted by Superstorm Sandy. The Hudson acquired the asset in March 2014 with a value-add strategy of completing capital projects, upgrading and expanding the amenities package, and leasing-up the apartments to a stabilized occupancy. The properties are located within walking of the B/Q express trains, Brighton Beach, and several regional employment centers. The properties were sold in 2017.

Project Team: Investors Bank