GFI Realty Svcs. sells two properties totaling $16m

According to GFI Realty Services, 700 Ocean Ave. has sold for $7.5 million. This six-story elevator apartment building consists of 66 residential units and is situated in the Prospect Park neighborhood. The building offered the buyer, a local investor who also owns a nearby property, tremendous upside potential.? Michael Kerwin, senior broker at GFI Realty Services, represented the buyer and the seller. GFI also completed the sale of 42-43 Ithaca St. in Elmhurst, Queens for $8.5 million. The buyer is a Queens investor. The six-story property contains 67 units and an indoor parking garage available for rental to building tenants. Yosef Katz, senior broker at GFI, represented the buyer and seller.

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