Bestreich, Sproviero and Reynolds of Marcus & Millichap complete two sales totaling $6.95 million

Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, completed the sale of 75 MacDonough St., a 8-unit apartment property. The asset sold for $3.15 million. Derek Bestreich, Lucien Sproviero and Steve Reynolds from Marcus & Millichap's Brooklyn office had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was secured and represented by Bestreich, Sproviero and Reynolds. "The Stuyvesant Heights Historic District Renaissance Revival apartment building featured eight four-bedroom box style apartments half of which were free market and half of which were rent stabilized. Within one month of exclusively hiring our team to represent the property for sale, we generated offers 17% higher than the previous offers ownership received from outside brokers and direct buyers," said Bestreich. In addition, Marcus & Millichap also completed the sale of 536 East 96th St., a 31-unit apartment property. The asset sold for $3.8 million. Bestreich and Sproviero had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was secured and represented by Bestreich and Sproviero. "This 31 unit apartment building was the final property in a four building portfolio that was sold between December 2013 and July 2014. The four properties were located in Lefferts Gardens, Crown Heights, and East Flatbush," said Bestreich.