GFI Realty Services, Inc. named exclusive sales agent for package of condominiums in Brooklyn’s Sheepshead Bay Section

GFI Realty Services, Inc., a leading New York-based commercial real estate services firm, today announced that it has been named exclusive sales agent for a package of 43 unsold condominium units at 2781 Ocean Ave. in the Sheepshead Bay section. The package consists of 21 free-market units and 22 stabilized units, and includes three community facilities, an antenna, laundry room and 11 parking spaces. GFI Realty Services director senior broker Erik Yankelovich will oversee marketing of the property, which is located within proximity of Marine Park and the Belt Pwy., and walking distance from Emmons Ave. and its scenic promenade. “Today’s buyers seek units in neighborhoods that offer walkability and convenient access to transportation,” Yankelovich said. “This is especially the case in Brooklyn, where heightened demand for multifamily properties resulted in a 28-percent increase in GFI’s investment sales activity in the borough in 2013. With this in mind, we anticipate a high level of interest from investors who understand the value of 2781 Ocean Avenue’s prime location, which is steps from restaurants, cafes, shopping and transportation. The buyer will have the option of operating the package as rentals or selling off each unit individually at a premium.” In total, 2781 Ocean Ave. features 72 condominium units, three community facilities, two commercial units and 21 parking spaces. The building is the latest multifamily property to reach the market in Brooklyn, where GFI recently reported seeing an uptick in the number of properties trading at lower CAP rates and higher gross rent multiplier (GRM) rates.