GFI Realty Services, Inc. (www.gficap.com) has completed the sale of 109 Madison St., a six-story, walk-up apartment building for $4.5 million. The Chinatown property totals 9,480 s/f and consists of 22 apartments and two stores. Jeremy Curtin, an associate at GFI, represented the seller, Harling Chan. Roni Abudi, a managing director also of GFI, represented the buyer, a local investor.
"The seller had owned the property for over 25 years and was looking to reposition her assets and invest in NNN properties," said Curtin.
"The buyer saw an opportunity to capitalize on the influx of students and young professionals moving into Chinatown," said Abudi. "He looks forward to this property being a long term investment."
This property is located in southeast Chinatown which is also known as Two Bridges, situated between the Manhattan and Brooklyn Bridges. It is located in close proximity to galleries, restaurants and boutiques in nearby Lower East Side.
With over 28 years of experience, GFI combines a knowledge of local markets within comparable client service, to maximize the value of every commercial real estate transaction they are engaged in. GFI, one of the top brokers of commercial real estate in the city, and is committed to surpassing client's needs and maintaining a thorough understanding of the latest market trends. Tags: