According Marcus & Millichap Real Estate Investment Services, it has completed the sale of 1714 86th St., a 1,916 s/f retail property. The sales price was $700,000.
Jeb Hollingsworth and Matthew Fotis, investment specialists in the firm's area office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was also secured and represented by Hollingsworth and Fotis.
"We were able to create a competitive bidding environment, generating 11 offers in writing through both our Brooklyn and Manhattan offices, which allowed us to achieve a strong price and terms. The property was sold as-is, all cash and closed within 30 days of contract signing," said Hollingsworth.
With more than 1,200 investment professionals in offices nationwide, Marcus & Millichap Real Estate Investment Services is the largest firm specializing in commercial real estate investment services in the nation. Marcus & Millichap closed 3,441 transactions in 2009, the highest of any commercial real estate brokerage firm. Founded in 1971, the firm has perfected a powerful system for marketing properties that combines product specialization, local market expertise, the industry's most comprehensive research, state-of-the-art technology and relationships with the largest pool of qualified investors nationally. Tags: