GFI Realty services arranges the $3.5 million sale of a mixed-use asset

 

 

 

New York, NY GFI Realty Services has completed the $3.5 million sale of 4802 13th Ave., a walk-up building comprised of a ground floor retail unit and 5 apartments. GFI Realty associate Eli Maryl, director, Ohad Babo and Michael Weiser represented the seller and the buyer, both are local investors. 

The three-story building, marketed exclusively by GFI Realty, was constructed in 1930 and totals approximately 4,860 s/f. The property was delivered mostly vacant.

“This corner asset is located on the most sought-after retail corridor in the area and its $720 per s/f transaction price reflects this,” said Maryl. 

“There is also tremendous value add opportunity for the residential component of the asset,” said Babo. 

Michael Weiser, president of GFI Realty, said, “My team identified numerous buyers and ran a very competitive process as they are very active throughout Brooklyn including this submarket. 4802 13th Ave. is our second closing within two months in this area.”

The property benefits from its location on a major commercial corridor surrounded by countless local eateries and retailers as well as several banks. The asset is also in proximity to Maimonides Medical Center and the D-F-G subway lines.