CLINTON HILL — Real estate firm RXR has sold the ground lease at 487 Clermont Ave. in Brooklyn for $69.6 million, records show. The property, also known as 470 Vanderbilt Ave., was acquired by 470 Holdings, an entity tied to Cross Ocean Partners and Lincoln Property, reports Crain’s New York Real Estate.

RXR had purchased the ground lease in 2014 for $194.5 million.

The 10-story renovated former factory, constructed in 1915, spans roughly 711,000 square feet and houses tenants including the city’s Human Resources Administration, New York Communities for Change, and Stuf Storage. CoStar data shows rents between $32 and $39 per square foot.

RXR described the site as a “nonstrategic asset” and declined further comment.

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