Edelkopfs of EPIC Commercial Realty sell mixed-use building for $1.122 million

Brooklyn, NY EPIC Commercial Realty has completed the sale of 589 Washington Ave., a mixed-use building in Prospect Heights. Located on Washington Ave., between Pacific St. and Dean St., the property is a two-story mixed-use building comprised of ground floor retail space and a free market apartment on top. Built to 2,190 s/f, the property is ideally situated within short walking distance from the Clinton-Washington Ave. [A, C] train stations and Prospect Park. EPIC investment sales associate, Baruch Edelkopf, said, "With all the new condos coming to the market in the area and the most recent retail leases on the avenue have been at $60 a foot, the buyer saw major value in the retail for now and the years to come." Prospect Heights has seen rapid demographic changes in the past few years. With an influx of well-educated, middle-class young population, the median rents in the area have been rising since 2010. Its shifts are exemplified by a mixture of older buildings under reconstruction, rows of classic 1890s brownstones and newly built luxury condominium. The neighborhood is notable for its proximity to Barclays Center and Prospect Park. Prospect Heights is accessible through public transportation with the 2, 3, 4, A, C, B, D, N and Q trains all nearby. EPIC sold 589 Washington Ave. for $1.122 million. CEO, Yona Edelkopf, and Baruch Edelkopf, represented the buyer.