Antebi and Landau of GFI Realty secure sale of 5-story walk up apartment building for $1.185 million

GFI Realty Services Inc. secures the $1.185 million sale of 193 Buffalo Ave., a walk up built in 1910 located in the Crown Heights section. The building traded at 6.5 times the rent roll and $118,500 per unit. The five story walk up apartment building consists of 10 apartments totaling 9,100 s/f and one antenna. Shlomo Antebi, a managing director of GFI Realty represented the seller, local investors. Joseph Landau, an associate broker also of GFI Realty represented the buyer, also a local investor. "The building drew a tremendous amount of interest from perspective buyers because of the large units. There are nine three-bedroom units and one two-bedroom unit," said Shlomo Antebi. "Additionally, the building has been very well maintained and had been under the ownership of the same family for the last 23 years. The new owner also intends to keep it as a long term investment." "The buyer was attracted to this building because of the increased popularity of Crown Heights and the strong demand for residential units," said Joseph Landau. This multifamily apartment building is located in close proximity to Prospect Park, Brooklyn Botanic Gardens, Brooklyn Museum and the 2, 3, 4 & 5 subway lines.