Fotis of Marcus & Millichap arranges sale of 4-unit apartment building for $1.45 million

Marcus & Millichap Real Estate Investment Services arranged the sale of 142 Fourth Avenue, a 4-unit apartment property, according to J.D. Parker, first vice president - regional manager of the firm's Manhattan office. The asset sold for $1.45 million. Matthew Fotis, vice president investments, from Marcus & Millichap's Manhattan office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was also secured and represented by Fotis 142 Fourth Avenue is located in the North Park Slope Section of Brooklyn, NY between Baltic Street and Sterling Place. "The Fourth Avenue corridor in Brooklyn continues to attract a high level of attention. By arranging to have the building delivered vacant at closing we were able to command a sales price $200,000 above our next highest offer," said Fotis.