The Barcel Group has completed the sale of 159 Evergreen Ave., located in the Bushwick section. The eight-unit, recently developed, apartment building sold for $1.82 million. The transaction price reflects a gross rent multiple of 8.5. Marcel Fridman, president and co-founder of the Barcel group represented all parties. Fridman said, "Bushwick has seen a huge demand for apartments recently due to the extremely high residential rents of Williamsburg."
This area of Brooklyn has seen many new developments get off the ground in the last 12 months. Lots of new high end restaurants and bars have been opening up in Bushwick. Tags: