Sadaghati and Yankelovich of GFI Realty Services secure $15.35 million sale

GFI Realty Services, Inc., one of the leading, New York-based commercial real estate services firms, arranged the sale of 410 Eastern Pkwy., a six-story two elevator apartment building located in the Crown Heights section of the borough for $15.35 million or $210,000 a unit, which translates to 16.1 times the rent roll. The 58,200 s/f multifamily property features 73 rental units and two antennas and is situated blocks from the Brooklyn Museum. Erik Yankelovich, senior director, investment sales of GFI represented the seller and Shawn Sadaghati, director, investment sales also of GFI represented the buyer, both of whom are local investors. "The purchase price translates to $210,000 per unit or $265 per s/f, which is record breaking for a rent stabilized building in this part of Brooklyn," said Yankelovich. "The buyer saw the value in this asset and plans to upgrade the property with numerous capital improvements and keep the building as a rental," said Sadaghati. The 58,200 s/f building was constructed in 1928 and is within close proximity to the Franklin Avenue, Botanic Garden, and Nostrand Avenue subway stations, which service the 2, 3, 4, 5, and S lines.