GFI Realty retained as exclusive sales agent for pre-war multifamily walk-up in Flatbush

July 03, 2018 - Front Section

BROOKLYN, NY GFI Realty Services, LLC has been named the exclusive sales agent for 2802 Clarendon Rd. (301-311 East 28th St.), a corner four-story walk-up, 38-unit multifamily property located in the Flatbush section. GFI Realty senior director Shlomo Antebi will oversee the marketing of the property.

Constructed in 1931, the 32,800-square-foot property features a mix of 25 one-bedroom units, 12 two-bedroom units, and a single three-bedroom unit. The property, which has been under the same ownership for over 30 years, offers investors the opportunity to acquire a well maintained, stable, pre-war asset with significant upside.

“In recent years, Flatbush has emerged as a desirable Brooklyn neighborhood due to its central location, numerous transit options, and proximity to Prospect Park, Brooklyn College and the Flatbush Avenue commercial corridor,” said Antebi. “Flatbush has a real neighborhood feel, with idyllic tree-lined streets, a diverse community, and affordability. This asset has great appeal because Clarendon Rd. is a wide street and the property occupies a corner allowing for great light and air. With in-place rents well below market rates, this building is a particularly attractive investment that will present long-term investors with real value-add potential.”

The building is well-situated in the heart of Flatbush, providing easy access to the B, 2, 3 and 5 trains. It is also within walking distance of neighborhood amenities, including Prospect Park, Kings Theatre and Brooklyn College.

 

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