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Brokerage
Posted: June 23, 2014
Brennan and Zarrella of Marcus & Millichap arrange $1.085 million sale of 6-unit apartment building
Marcus & Millichap, one of the leading commercial real estate investment services firms with offices throughout the U.S. and Canada, arranged the sale of 243 Senator St., a 6-unit apartment property, according to John Horowitz, regional manager of the firm's Brooklyn office. The asset sold for $1.085 million which represented $244 per s/f.
John Brennan and Mark Zarrella 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 developer, was secured and represented by Brennan and Zarrella.
"The sale of 243 Senator St. is a prime example of the unprecedented opportunity sellers of multifamily real estate have in Brooklyn right now. We generated six offers in a matter of 10 days and put the property into escrow with terms that were extremely favorable to the seller. This was undoubtedly a win-win for both parties involved," said Brennan.
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