Marcus & Millichap arranges $1.585 million sale of 355 Stockholm Street

Marcus & Millichap arranged the sale of 355 Stockholm St., a 6-unit apartment property, according to John Horowitz, regional manager of the firm's Brooklyn office. The asset sold for $1.585 million. Shaun Riney, Dan Greenblatt and Thomas Shihadeh from Marcus & Millichap's Brooklyn office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a fund manager, was secured and represented by Said Boukhalfa from Marcus & Millichap's Manhattan office. "This sale marks a 20 percent increase in value just over the 12 months the sellers took ownership. 355 Stockholm Street is nestled right in the strongest section of Bushwick that is experiencing the most change, and we anticipate that this growth will continue in large part to all the emerging new retail establishments just steps from the property on Wyckoff," says Shihadeh.