Brooklyn, NY GFI Realty Services, LLC handled the $9 million sale of 21 St. Pauls Ct., a six-story apartment building in the Prospect Park South neighborhood. GFI Realty senior director Erik Yankelovich represented the buyer and seller, both local investors, in this transaction.
Located between Ocean Ave. and East 19th St., the pre-war elevator building is composed of 36 apartments–a mix of one- and two-bedroom units–and totals 43,715 s/f.
“With unusually spacious units and current rents that are significantly below market, the buyer saw tremendous upside in this property,” said Yankelovich. “We have particularly strong expertise in the multifamily asset class, and this transaction is just another example of how the relationships we have built over many years consistently bear fruits for our clients.”
The property is close to Prospect Park, the newly renovated Kings Theatre and the commercial corridor along Flatbush Ave.
GFI Realty Services, LLC imparts strategic and comprehensive solutions to maximize the value of real estate assets. Offering a wide array of brokerage services including investment sales, commercial real estate financing and retail leasing, GFI Realty Services, LLC utilizes its affiliate companies’ fully-integrated platform to provide owners, buyers, landlords and tenants nationwide with the market knowledge and due diligence required to consummate multifaceted transactions.
The company’s extensive knowledge of the commercial real estate industry, advanced analytical capabilities and incomparable client services position its executives as masters at executing off market and complex deals that require the most innovative solutions.