GFI Realty Services Inc. has completed the sale of 563 Amboy St. a listing in the East Flatbush section, for $1.35 million. The sale price translates to 7.5 times the rent roll. The four-story walk-up apartment building consists of 12 units totaling 12,800 s/f.
Shlomo Antebi, a director at GFI, represented the seller, RTC Realty Inc. Joseph Landau, an associate broker also at GFI, represented the buyer, a local investor.
"The building is very well maintained and most of the apartments have been renovated which drew a tremendous amount of interest from perspective buyers," said Antebi. "We were able to close the deal in just under 60 days."
"The buyer is a local investor who currently owns many properties in the area. 563 Amboy was a perfect addition to his existing portfolio," said Landau.
This multifamily apartment building was built in the 1930s and is located in close proximity to Brookdale University Hospital and Medical Center as well as Linden Blvd., a major thoroughfare.

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