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Zborovsky gets exclusive for Clinton Hill co-op.

Mark Zborovsky and Company, Inc. has been appointed by Citicorp the exclusive agent for disposition of a block of unsold sponsor units in Clinton Hill cooperative corporation in Brooklyn, reports Zborovsky, president of the firm that specializes in analysis, appraisals and sales of large blocks of sponsor Units in New York.

The 1,213-unit co-op consists of 12- and 14-story buildings and is one of the largest residential co-ops in New York City.

The complex is excellently located in the historic Clinton Hill area of Brooklyn, near all shopping, transportation, public parks, schools and Pratt Institute. It is only 15 minutes from Manhattan by car, bus or subway.

Clinton Hill Co-op is surrounded by religious and educational institutions, beautiful brownstones and private homes in the rich architectural styles of 19th century.

Out of 163 unsold sponsor units for sale, 140 apartments are occupied by rent-stabilized tenants and 23 units are vacant. The apartments are for sale on a bulk basis only and have a combined vacant market value of approximately $5 million.

Four other major shareholders in the corporation are Chemical Bank, Bank Leumi, FGH. and FDIC hold together more than 500 Unsold Units.

The purchaser's qualification shall include strong financial and management capabilities. Mark Zborovsky predicts it will take him between two and thee months to find a purchaser for this block.
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Title Annotation:Mark Zborovsky and Company Inc. appointed sales agent for apartment cooperative in Brooklyn, New York, New York
Publication:Real Estate Weekly
Date:Nov 11, 1992
Words:223
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