The CPEX N.Y. mixed-use team completed the sale of a mixed-use property located at 154 Prospect Park Southwest. The property is situated across from Prospect Park and consists of one commercial unit and two one-bedroom apartments. The 2,400 s/f building is located in an R6A/R5B zoning district and sold for $883,000 in an all cash deal. The property was delivered vacant. The new owner plans to renovate both residential units as well as the commercial unit and lease them to new tenants. Associate directors Scott Burk, Esq. and Andre Sigourney of the N.Y. mixed-use team represented the sellers.
The property is located in Windsor Terrace, a primarily residential neighborhood. "The neighbors are excited for a new commercial tenant to soon occupy the vacant space. There is abundant demand for a variety of commercial uses to service the area because there simply are not a lot of spaces that permit commercial uses," said Burk. CPEX Real Estate's mixed-use team achieved a purchase price that was $33,000 above asking price, which was attributed to the successful marketing campaign they implemented in a relatively short time period.
For further information, please contact CPEX, [email protected] , or (718) 935-1800.
About CPEX:
CPEX was founded in September 2008 by Timothy King and Brian Leary, two prominent leaders in the New York City commercial real estate industry. The founders have provided a broad range of real estate and business services locally, nationally and internationally throughout their career.
CPEX provides a full range of services for both real estate and business owners, through our innovative operating platform and entrepreneurial culture. CPEX implements a team-based approach in which each group is focused on a specific business line, product type and definitive specialization for each market. Real estate services include: sales, leasing, acquisitions and advisory. Business services include: sales, acquisition, and advisory.
CPEX adds additional resources and support to its teams. Each business line is backed by its own dedicated operations team. The operations team carries out tasks such as scheduling, preparing materials and documentation, client reporting, coordinating public relations, advertising and marketing efforts, and working with CPEX administration. Teams are further supported by our centralized in-house research, technology and marketing & media groups. This quality of support allows our sales force and advisory team to remain singularly focused on executing assignments. The CPEX operating platform consisting of multiple people working together in a specialized system is proven to achieve maximum results for our clients. Tags: