Goldflam of Highcap Group completes $1.375 million sale of 614 Marlborough Road

Josh Goldflam, managing principal of investment sales firm Highcap Group, arranged the sale of the building located at 614 Marlborough Rd. in the Ditmas Park neighborhood of the borough for $1.375 million all-cash. Goldflam represented the buyer, a local landlord, and the seller, a financial institution that took possession of the property after foreclosing on the debt of the previous owner. The mid-block building was originally built in 1931 and is located on Marlborough Rd. between Newkirk Ave. and Foster Ave. The four-story walk-up mixed-use structure consists of 5,750 gross s/f and has eight two-bedroom apartments. The property was sold with a few vacancies and presents an excellent repositioning opportunity for the buyer to upgrade the building and the tenancy. The building is located within one block of the B and Q subways. The property sold for $1.375 million which represents a sales price of $239 per s/f, 11.7 times the gross rent roll and a 5.8% capitalization rate.