Burk and Sigourney of CPEX handle $760,000 sale

The CPEX N.Y. Mixed-Use Team has completed the sale of a mixed-use property located at 886 Franklin Ave. The property consists of one commercial unit and four free market residential apartments. The building is 4,800 s/f with R6A/C1-3 zoning and it sold for $760,000. The property was sold fully occupied. The new owner plans to hold the asset for the long term. Associate directors Scott Burk, Esq. and Andre Sigourney of the N.Y. Mixed-Use Team represented the sellers. Marcel Friedman of the Barcel Group represented the buyers. 886 Franklin Ave. is located on the northwest corner of Crown Heights just south of Eastern Parkway. "The property's great location, which is close to the 2 & 3 local trains and the 4 & 5 express trains at the Franklin Ave. Station as well as the Brooklyn Museum, the Brooklyn Botanical Gardens and Prospect Park, makes this asset ripe for long term appreciation and increasing cash flows," said Burk. The property received a lot of attention from investors looking for stable cash flowing properties with future upside. 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.