GFI Realty Services arranges the $3.5m sale of a mixed-use asset

New York, NY GFI Realty Services arranged the $3.5 million sale of 4802 13^th Ave., a walk-up building comprised of a ground floor retail unit and 5 apartments located in the Borough Park section of Brooklyn. 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.

“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. 

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

The property is surrounded by local eateries and retailers as well as banks. The asset is also in proximity to Maimonides Medical Center and the D-F-G subway lines.