Riney, Greenbalt, Shihadeh of Marcus & Millichap arrange $1.15 million sale of 17-19 Madison Street

Marcus & Millichap Real Estate Investment Services, the nation's largest real estate investment services firm, has announced the sale of 17-19 Madison Street, a 6-unit apartment property, according to John Horowitz, regional manager of the firm's Brooklyn office. The asset sold for $1.15 million which represented $205 per s/f. 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 private investor, was secured and represented by Shihadeh, Riney and Greenblatt. "The 1700 block, in particular, of Ridgewood is in high demand given the spillover from Bushwick and its proximity to train lines. We've been anticipating this trend for quite some time - and priced 1719 Madison Street with this forward thinking in mind. We believe values will continue to climb in the area," said Riney.