Antebi and Abudi of GFI Realty Services complete $1.96 million sale of 626 Lincoln Place

GFI Realty Services Inc. has arranged the sale of 626 Lincoln Place, a listing in the Crown Heights section of the city, for $1.96 million, which translates to nine times the rent roll and $122,500 price per unit. The four-story walk up apartment building consists of 16 units totaling 9,200 s/f. Roni Abudi, a managing director of GFI Realty Services Inc., represented the seller, a local investor. Shlomo Antebi, a director also of GFI Realty Services Inc., represented the buyer, a local investor. "The building is very well maintained and half of the units are priced well below market. The buyer quickly realized the great potential in this deal and he intends to keep the building as a long term investment property within his existing Crown Heights portfolio," said Shlomo Antebi. "I sold the seller this property a few years ago," said Roni Abudi. "They decided that it was time to take the profits from this sale and move on to the next project." This multi-family apartment building was built in the early 1900's and is located in close proximity to the Brooklyn Botanic Gardens, Prospect Park and the 2,3,4 and 5 subway lines.