GFI sells eight-unit apartment building for $750,000

GFI Realty Services, Inc. has brokered the $750,000 sale of 772 Jefferson Ave., a 1930's walk-up apartment building located in Bed-Stuy. 772 Jefferson Ave.is a four-story walk-up apartment which consists of eight apartments and totals 9,960 s/f. Shlomo Antebi of GFI represented the seller, a local investor, and Joseph Landau, also of GFI, represented the buyer, Jefferson Estate LLC. "The seller was very pleased that GFI was able to arrange a very smooth transaction," said Antebi. " Because vacant buildings are difficult to finance this was an all cash transaction." "The buyers view this vacant 30-footer as a unique opportunity and have plans for some major capital improvements. Their intention is to keep it as a long term rental property," said Landau. "This transaction proves that investors feel that Bed-Stuy is a worthwhile area to invest in because it is a constantly upgrading neighborhood." 772 Jefferson Avenue is centrally located to the J subway line. About GFI Realty Services With over 28 years of experience, GFI Realty Services, Inc. combines an intimate knowledge of local markets within comparable client service, to maximize the value of every commercial real estate transaction they are engaged in. GFI, one of the top brokers of commercial real estate in the City, and is committed to surpassing client's needs and maintaining a thorough understanding of the latest market trends.