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Brokerage
Posted: February 16, 2021
GFI Realty Services arranges $2.095 million sale
Brooklyn, NY GFI Realty Services completed the $2.095 million sale of 227 Malcolm X Blvd., a mixed-use building comprised of four units and a ground floor retail space located in the Bedford-Stuyvesant neighborhood. GFI Realty associate Zach Fuchs represented the buyer, Mark Guindi. Joseph Landau and Moshe Goldberger, both of GFI Realty, represented the seller, Mordy Getz. Constructed in 1910, the three-story building totals 4,983 s/f and is composed of four three-bedroom apartments.
“The buyer immediately recognized the value of this fully leased gut renovated asset,” said Fuchs. “The property also benefits from its large apartment layouts as well as its central location near commercial corridors and mass transportation.”
“Despite some slowing in the real estate market, Brooklyn has led the way in 2020 real estate transactions. The seller recognized this and decided this was the time to sell,” said Landau.
“Bedford-Stuyvesant continues to be an attractive option for residents due to its competitive rental pricing and neighborhood feel,” said Goldberger.
The asset is in proximity to the Utica Ave. and Broadway commercial corridors, Fulton Park as well as the A, C, J & Z subway lines.
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