Queens, NY Marcus & Millichap, a commercial real estate investment services firm with offices throughout the U.S. and Canada, has completed the sale of 45-44 48th St., a 3,600 s/f mixed-use property, according to John Horowitz, VP - regional manager of the firm’s Brooklyn office. The asset sold for $1.415 million. Shaun Riney and Michael Salvatico of Marcus & Millichap had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. The buyer, a private investor, was secured and represented by the team.
“This property is another great example of the surging demand for multifamily properties in the Sunnyside and Woodside neighborhoods. As the L train shutdown looms, the neighborhoods along the 7 train are primed to see significant increases in property values,” said Salvatico.