The Barcel Group has brokered the sale of 3021 Brighton 13th St. located in the Brighton Beach section. The 46-unit walk-up apartment building sold for $4.6 million. The transaction price reflects a gross rent multiple of 9%.
The sellers have owned the property for over 20 years. It is located on the corner of Brighton 13th St. and Ocean View Ave.
Marcel Fridman president and co-founder of the Barcel Group represented the buyer and Nikolai Korobkin represented the seller.
Fridman said, "It took one phone call to find a buyer for this deal. This area has recently seen an increase in the rents that these types of buildings can command. The buyer quickly realized the opportunity for steady income, as well as future upside."
Fridman also said that this is the third apartment building he has sold in the Brighton Beach area. Tags: