517 39th St. in SunsetPark.

NEW YORK CITY – Newly constructed multifamily and hotel assetsthat have come online in Brooklyn has drawn a flock of investors insearch of long term upside for the free-market units, according tothe Cushman & Wakefield team marketing the Sunset Park hotel at517 39th St., and the Bushwick Portfolio at 682 & 692 BushwickAve in Brooklyn.

There is a growing demand for recently constructed hotel andmultifamily assets with free-market units, in which there arelimited acquisition opportunities for the asset types, especiallyin fast gentrifying Brooklyn neighborhoods like Sunset Park andBushwick. For these reasons, the assets are sure to draw a crowd,Stephen Preuss, vice chairman at Cushman & Wakefield, tellsGlobeSt.com.

"The sale of the Bushwick Avenue portfolio offers investors thechance to participate in the persistent growth of theneighborhood," he said. "Investors are looking for longer-termupside through the renovation of free-market apartments."

The turn-key hotel at 517 39th St. in Sunset Park totals20,640-square-foot and stands six stories tall. It qualifies forM1-2 zoning for industrial uses and has a max buildable square feetof 36,058. The property has 45 units and a vacant ground-floorcommercial unit and features balcony access, elevators and parking.Nearby are multiple bus lines and the D, N and R trains. The asset,with a $9.5 million price tag, presents an owner-user investmentopportunity in 2 years.

The two-building Bushwick portfolio at 682 & 692 BushwickAvenue totals 59,927 square feet. The building is made up of90%  free-market units and is nearby the J, M and Ztrains. Property features include stainless steel appliances,granite counter tops and a rooftop lounge.