According to GFI Realty Services, it has completed the sale of 195-24 Jamaica Ave. This three-story garden style apartment complex consists of 65 residential apartment units.
Shlomo Antebi of GFI Realty Services represented the seller of the property, while Yosef Katz, also of GFI Realty Services, represented the buyer.
"GFI sold this rent stabilized building with tremendous upside, at 6.4 times the rent roll ($58,461 per unit)," said Shlomo Antebi. "The new owner intends to reconstruct the 40 car indoor garage that is currently not being utilized. He will invest in significant capital improvements to upgrade the property over the next few years."
The building totals 27,849 s/f and is close to public transportation and local shopping. Tags: