CPEX's Leary, Burk, Sigourney, Kelly, Sendogdular and Dzbankek broker $2.8 million, three-property sale

CPEX Real Estate's N.Y. Mixed-Use and Development and Conversion Sales Teams have arranged the sale of a mixed-use/development assemblage in Boerum Hill located at 284, 286 & 288 Atlantic Ave. The sale consisted of three properties on adjoining tax lots, totaling 5,002 s/f of land. The package sold for $2.8 million in an all-cash deal. 284 Atlantic Ave. is a four-story mixed-use building with seven rent stabilized apartments and one commercial unit and is 3,600 s/f. 286 Atlantic Ave. is a vacant lot that allows for 5,403 buildable s/f. 288 Atlantic Ave. is a four-story mixed-use building with six rent stabilized apartments and one commercial tenant and is 4,400 s/f. The properties were delivered with a total of 12 occupied rent stabilized apartments, one vacant rent stabilized apartment and two vacant commercial units at closing. CPEX managing partner Brian Leary along with the N.Y. Mixed-Use Sales Team consisting of associate director Scott Burk Esq. and associate director Andre Sigourney as well as the New York Development and Conversion Sales Team comprised of managing director Sean Kelly Esq., and associates Cengiz Sendogdular and Matthew Dzbanek represented the seller and procured the purchaser, a local real estate investor/developer who intends to renovate the existing buildings and develop the vacant land. Additionally, the CPEX Retail Leasing Team has been hired to market the vacant retail space which can be delivered as one contiguous space totaling 5,000 s/f or broken down into smaller spaces starting at 1,000 s/f. "It is great to see our system at work. We had multiple sales teams working together on this assignment to achieve a successful sale and our retail leasing team will assist the new owner in achieving their objective in obtaining a suitable tenant for the vacant space," said Leary. 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. To these teams, CPEX adds additional resources and support. Each business line is backed up with 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 type 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 achieve maximum results for our clients.