News:
Brokerage
Posted: December 22, 2015
Nowak, Ronsenweig, Barbartsis-Savidis and Barbartis of Marcus & Millichap complete $1.875 million sale of retail property
Jakub Nowak, Marcus & Millichap
Matthew Rosenzweig, Marcus & Millichap
Maria Barbatsis-Savidis, Marcus & Millichap
John Horowitz, Marcus & Millichap
1602 Gravesend Neck Road - Brooklyn, NYBrooklyn, NY Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, has completed the sale of 1602 Gravesend Neck Rd., a 5,027 s/f retail property, according to John Horowitz, vice president - regional manager of the firm’s Brooklyn office. The asset sold for $1.875 million.
Jakub Nowak, Matt Rosenzweig, Maria Barbatsis-Savidis and Bobby Barbatsis from Marcus & Millichap’s Brooklyn office, exclusively represented the seller, a REIT and the buyer, a private investor.
“There is a huge demand for straight retail deals in the southern Brooklyn market, and there is not much out there available for sale. Even though this property is not on the busiest corridor, we were able to procure multiple offers in a short amount of time, and eventually find the perfect buyer who was in a 1031 exchange willing to pay ask price for the building. The sale of this property was a price record for a tertiary retail corridor in the Sheepshead Bay neighborhood,” said Barbatsis-Savidis.
Tags:
Brokerage
MORE FROM Brokerage
Marcus & Millichap brokers $2.8 million sale of free-market mixed-use property in Brooklyn
Brooklyn, NY Marcus & Millichap brokered the sale of 733 Dekalb Ave., a fully free-market multifamily and retail property in the Bed-Stuy neighborhood. The asset sold for $2.8 million.
Quick Hits
 (2).gif)
Columns and Thought Leadership
Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt
Yes, there are lessons to be learned from the largest companies in America when comes to managing your real estate. But the decision to buy or lease real estate may not be one of
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz
Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
Positive forecast for New York’s pro-housing push? - by Philip Butler
New York’s housing crisis remains a hot button topic despite growing consensus that varied and affordable housing is desperately needed statewide. Governor Hochul has recently introduced several initiatives to overcome N.Y.’s anti-housing
A guide to finding the right NYC property management company - by Sanjay Gandhi
Being a small to midsize landlord in NYC is an increasingly demanding endeavor. From navigating complex regulations, increased compliance demands to dealing with tenant issues and remediating violations. It is wise to enlist the assistance of a partner, a professional
.gif)
September Promotion
