Marcus & Millichap completes three Brooklyn sales totaling $5.245 million

Derek Bestreich, Marcus & Millichap

Erik Rodriguez, Marcus & Millichap

Seth Schiffman, Marcus & Millichap

John Brennan, Marcus & Millichap

Mark Zarrella, Marcus & Millichap

Shaun Riney, Marcus & Millichap

Brooklyn, NY Marcus & Millichap has completed three sales totaling $5.245 million, according to John Horowitz, vice president - regional manager of the firm’s Brooklyn office.

The first sale was for a 7,128 s/f mixed-use property located at 1208 Nostrand Ave. The asset sold for $2.2 million. Derek Bestreich, Erik Rodriguez, and Seth Schiffman of Marcus & Millichap had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a limited liability company, was also secured and represented by the team.

“This is the fifth building our team has sold on Nostrand Avenue and it only highlights the significant demand mixed use buildings within Prospect Lefferts Gardens generate,” said Rodriguez.

The second sale was for 1416 66^th St., a six-unit apartment property. The asset sold for $1.17 million. John Brennan and Mark Zarrella of Marcus & Millichap had the listing to market the property on behalf of the seller, an individual/personal trust. The buyer, a private investor, was also secured and represented by Brennan and Zarrella.

“We hit a price that was higher than the seller anticipated due to a bidding war in the final stages of marketing,” said Brennan.

“Our ability to ultimately achieve a purchase price 20,000 over the list price was a function of the competition we were able to generate through a controlled bidding environment,” said Zarrella.

The third sale was for 43 Meserole St., a three-unit apartment property. The asset sold for $1.875 million. Shaun Riney, James Saros and Michael Salvatico of Marcus & Millichap had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a LLC, was also secured and represented by the team.