GFI Realty Services Inc. has brokered the $3.1 million sale of 239 Prospect Place, a four-story walk-up apartment building located in the Prospect Heights section. The transaction translates to 11.25 times the rent roll and $258,000 per unit. The property, constructed in 1931, consists of 12 apartments totaling 8,580 s/f. Shlomo Antebi, a director of GFI Realty Services, Inc. represented the seller and the buyer, both of whom are local investors.
"This was a very unique opportunity because buildings in this area rarely trade," said Antebi. "The building is very well maintained and has a nice mix of one, two and three bedroom apartments. The sellers were looking to re-deploy their capital and the purchaser was looking to upgrade his downtown Brooklyn portfolio, making them a perfect match. The buyer plans on keeping this property as a long term investment property within his existing portfolio."
This multifamily apartment building is located in close proximity to the Grand Army Plaza, the Brooklyn Museum as well as the B, Q, 2 and 3 subway lines. Tags: