Abudi and Yankelovich of GFI sell five-story walk-up for $7.75 million; Seller of 447 3rd Street was a local investor; Buyer was a foreign investor

GFI Realty Services Inc. has completed the sale of 477 3rd St., a walk-up built in 1931 located in the Park Slope section for $7.75 million. The cost translates to $387,500 per unit. The five-story walk-up apartment building consists of 20 units totaling 14,672 s/f. Roni Abudi, a managing director of GFI, represented the seller, a local investor. Erik Yankelovich, a director also of GFI, represented the buyer, a foreign investor. "The sellers jumped at the opportunity to take advantage of the hot seller's market," said Abudi. "In this case they were able to get their asking from a foreign investor who recognized the potential high financial return and stability of the New York City real estate market" "The rarity of purchasing a 20-unit apartment building in the tony neighborhood of Park Slope was not lost on the buyers," said Yankelovich. "They see 477 3rd St. as a long-term investment and will maintain it within their portfolio as a high end rental property." This multifamily apartment building is located in close proximity to Prospect Park West, New York Methodist Hospital, Grand Army Plaza as well as the 2 & 3 subway lines.