Cbre Group Inc. arranges sale of Coney Island multifamily apartment building for $3.78 million

CBRE Group, Inc. arranged the sale of 3208-3210 Boardwalk West in Coney Island for $3.78 million. The 16,336 s/f oceanfront property is newly renovated, after suffering severe damage from Hurricane Sandy. CBRE's Charles Berger, of New Jersey Investment Properties; Elli Klapper and Matthew Giordano, of New York Investment Properties, and Justin Aronson of New York Brokerage, served as the exclusive agents for the seller in the transaction. The new owner plans to sell the property's 11 individual condominiums for residential purposes. The CBRE team was able to secure top pricing for the apartment complex and facilitate securing the certificate of occupancy for the asset, which the buyer required in order to finalize the transaction. "This was a highly complex deal with a variety of factors hindering the sale: the involvement of multiple owner parties, necessary collaboration with a number of New York City agencies, and cooperation with a cautious and thorough buyer," said Klapper. "Thanks to the diligent efforts and strong partnership of CBRE's New Jersey, New York and Long Island City offices with external parties we were able to complete the deal to the satisfaction of all participants." Located directly on the boardwalk, 3208-3210 Boardwalk West offers oceanfront views and high-end finishes in all apartments, including granite countertops, kitchen islands, stainless steel appliances, tiled bathrooms, beautiful hardwood floors and floor-to-ceiling windows. All units are equipped with a washer and dryer hook-up and have designated parking spaces.