Marcus & Millichap Real Estate Investment Services has completed the sale of 413 7th Ave., a 5,388 s/f mixed-use property, according to J.D Parker, regional manager of the firm's area office. The asset commanded a sales price of $1.48 million.
John Horowitz and Matthew Fotis, investment specialists in Marcus & Millichap's Brooklyn office, had the exclusive listing to market the property on behalf of the seller, a LLC. The buyer, a private investor, was secured and represented by Adelaide Polsinelli, an investment specialist in Marcus & Millichap's Manhattan office.
"This mixed-use building, located on 7th Ave. in Park Slope, was listed by our Brooklyn office and sold to a 1031 exchange buyer through our Manhattan office. Marcus & Millichap's ability to expose this asset to buyers throughout N.Y.C. allowed our seller to achieve a strong price even in this current environment," said Horowitz.
"Thanks to the collaborative efforts of both offices and all parties to this transaction, we were able to overcome all of the challenges facing today's real estate industry," said Polsinelli. Tags: