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Brokerage
Posted: September 12, 2011
Efrati of Itzhaki Properties reps buyer in $14 million sale of six-story mixed-use property; Sold to BRG; MizuKovski of Itzhaki Properties reps seller, Junction Enterprises, Inc.
A six-story, double elevator, mixed-use building, located at 9604-10 37th Ave., was sold for $14 million. The property is comprised of 76 apartments, nine stores, and one office. Itzhaki Properties' associate broker Ami Efrati represented the buyer Benedict Realty Group (BRG) and Leonid Mizukovski represented the seller Junction Enterprises Inc. The selling price represents a 9.8 multiple.
The purchase was BRG's sixth transaction in the neighborhood adding to its portfolio of over 4,000 units in N.Y.C. and over 800 units in the immediate area. This transaction represents one of the largest single property transactions this year for the borough.
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