Bestreich, Sproviero, Lobel and Rodriguez of Marcus & Millichap secure $6 million sale

BROOKLYN, NY Marcus & Millichap, one of the leading commercial real estate investment services firm with offices throughout the United States and Canada, arranged the sale of a 20-unit apartment property, according to John Horowitz, regional manager of the firm’s Brooklyn office. The asset sold for $6 million. Derek Bestreich, Lucien Sproviero, Adam Lobel, and Erik Rodriguez, investment specialists in Marcus & Millichap’s Brooklyn office, had the exclusive listing to market the property on behalf of the seller, a private investor.  The buyer, a limited liability company, was secured and represented by Bestreich, Lobel, Sproviero and Rodriguez. 10 Westminster Rd. is located between Caton and Church Aves. in Brooklyn’s Prospect Park South neighborhood. The 20 unit property offers apartments ranging in size from three to four bedrooms per unit. The 25,990 s/f property sits on an irregular lot, sized 106 feet by 108 feet, offers close proximity to public transportation and features picturesque views of Brooklyn’s famed Prospect Park. “We successfully completed the transaction while the property was in both receivership and the Alternative Enforcement Program with 190 HPD violations” said Lobel. “The buyer acquired this rare and sought after park block asset for $300,000 per unit and $230 per s/f” said Bestreich.