News:
Brokerage
Posted: December 18, 2018
Fotis and Renicker of Marcus & Millichap arrange sale of two apartment buildings totaling $11.8 million
Brooklyn, NY Marcus & Millichap has completed the sale of two rare apartment buildings in the Cobble Hill neighborhood, according to John Krueger, regional manager of the firm’s Manhattan office. The asset sold for $11.8 million.
Investment sales team led by Matt Fotis and Dylan Renicker of Marcus & Millichap’s Manhattan office, represented the seller, a private investor. The team also procured the buyer, another private investor.
“These buildings had a lot going for them, excellent location, luxury finishes and charm,” said Fotis. “Ultimately, we identified a buyer making their first purchase in Brooklyn who was also in a 1031 exchange.”
Located at 439-441 Henry Street, just two blocks from Court Street retail corridor, the subject property affords a short walk to Brooklyn Bridge Park. Both lots total 73-feet of residential frontage on Henry Street
Tags:
Brokerage
MORE FROM Brokerage
Marcus & Millichap brokers $2.8 million sale of free-market mixed-use property in Brooklyn
Brooklyn, NY Marcus & Millichap brokered the sale of 733 Dekalb Ave., a fully free-market multifamily and retail property in the Bed-Stuy neighborhood. The asset sold for $2.8 million.
Quick Hits
Columns and Thought Leadership
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz
Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt
Yes, there are lessons to be learned from the largest companies in America when comes to managing your real estate. But the decision to buy or lease real estate may not be one of
Positive forecast for New York’s pro-housing push? - by Philip Butler
New York’s housing crisis remains a hot button topic despite growing consensus that varied and affordable housing is desperately needed statewide. Governor Hochul has recently introduced several initiatives to overcome N.Y.’s anti-housing
A guide to finding the right NYC property management company - by Sanjay Gandhi
Being a small to midsize landlord in NYC is an increasingly demanding endeavor. From navigating complex regulations, increased compliance demands to dealing with tenant issues and remediating violations. It is wise to enlist the assistance of a partner, a professional
.gif)
September Promotion
