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Brokerage
Posted: September 21, 2021
Fuchs of GFI Realty Services is sole broker for $1.475 million multifamily sale of 751 55th St.
Brooklyn, NY GFI Realty Services, LLC handled the $1.475 million sale of 751 55th St., a three-story walk-up, six-unit multifamily property located in the Sunset Park neighborhood. This is the first trade of this asset in over 50 years. GFI Realty associate Zachary Fuchs represented both the seller, the Giancola family, and buyer, Henry Koon.
Constructed in 1917, the 3,855 s/f property is comprised of two-bedroom units. Five of the apartments are free market.
“The sellers realized that investors would be attracted to this stable cash-flowing multifamily asset, where the majority of the units are free market” said Fuchs. “The property is located just blocks from the 7th Ave. commercial corridor, where numerous national and local retailers are situated.”
Sunset Park is known for its busy commercial corridors and residential streets lined with two and three-story rowhouses. Residents enjoy numerous amenities including the Food Hall at Industry City and the Brooklyn Flea and Smorgasburg.
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