Antebi and Sadaghati of GFI handle $965,000 sale

GFI Realty Services Inc. has completed the sale of 1404 Pacific St. located in the Crown Heights section for $965,000. The four-story walk-up apartment building consists of eight residential units totaling 13,124 s/f. The apartments in the building are four and five bedroom units averaging 1,500-1,600 s/f. Shlomo Antebi, a director at GFI, represented the seller, New World Faculty Group. Shawn Sadaghati, an associate also at GFI, represented the buyer, One Pacific LLC. "The low average rents and the two vacant units made financing very difficult, therefore, it had to be an all cash deal," said Antebi. "The buyers were very excited about the potential for 1404 Pacific St., a building that is already in great condition," said Sadaghati. "They have plans for major capital improvements and will be keeping it as a long term investment property in their portfolio." This multifamily apartment building was built circa 1910 and is located near the 2,3,4 & 5 subway trains. It is also in close proximity to the Brooklyn Botanic Gardens and Prospect Park.