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Posted: August 24, 2015
Edelkopf and Zeitchik of EPIC complete $920,000 sale
EPIC Commercial Realty has brokered the sale of 211 Marion St. in Bedford-Stuyvesant. The building, located between Howard and Ralph Aves., currently occupies six railroad style apartments. The property is built at 5,400 s/f and is located three blocks from the Ralph Ave. C subway station. Yona Edelkopf, CEO at EPIC Commercial Realty, and sales associate Justin Zeitchik sold 211 Marion St. for a price of $920,000, at a 5.8% cap rate.
Bedford-Stuyvesant is located in the north-central part of Brooklyn, neighbored by Williamsburg to the north and Crown Heights to the south. It is also known for its main shopping area on Fulton St. Home to many historic brownstones, Bedford-Stuyvesant displays classic architectural elements that have many developers flocking to the area.
"This deal moved quickly. It is extremely hard to find a six unit in this area for under $1 million, even with an extremely low rent roll. I believe the buyer will be very happy with this purchase in the next coming years," said Zeitchik.Jennifer Falk addresses a full house of attendees at the Union Square Partnership's 31st Annual Meeting, held at the W New York - Union Square. Photo courtesy of Union Square Partnership.
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