Alaoui and Melwani of Landair Property Advisors sell 3,712 s/f multifamily for $2.1 million

Brooklyn, NY Landair Property Advisors negotiated the sale of a two-story multifamily building at 365 Rutland Rd. in Prospect Lefferts Gardens for $2.1 million.

The 3,712 s/f building, with four units, was built in 1931. The seller, Deborah Diaz and Anise Roberts, were represented by Maha Alaoui and Anand Melwani of Landair Property Advisors. The buyer, Yitzchak Yehuda Lisbon was represented by JJ Katz of Heights Properties.

“The seller owned the home for 30 years and it was very well maintained,” said Melwani.

Each unit is three bedroom and one bath. One of the units was converted into a two bedroom.

When Landair Property Advisors listed the property back in March, for $2 million it was expected to sell as a development site. “But the property got a flood of interest from all types of buyers: developers, investors and users,” said Melwani, who said it received over 20 offers and the accepted final offer was for $2.1 million. “A bidding war organically happened,” said Melwani. “Everytime we thought we hit the peak and were ready to accept an offer, we’d get better offers.”