Salvatico, Riney, and Saros of Marcus & Millichap broker $2.2 million sale

Marcus & Millichap Real Estate Investment Services, the nation's largest real estate investment services firm, has announced the sale of 359 Manhattan Avenue, an eight unit mixed-use property located in Brooklyn, NY, according to John Horowitz, regional manager of the firm's Brooklyn office. The asset commanded a sale price of $2.2 million. Michael Salvatico, Shaun Riney and Jim Saros, investment specialists in 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 Salvatico, Saros and Riney. According to Saros, "This deal gave the buyer the opportunity to purchase a corner mixed-use building consisting of seven free market apartments and a corner retail. The price point of $440 per s/f speaks to the increasing strength of the rental and retail market east of the BQE in Williamsburg."

Tags: Brokerage

Reprint

Previous Story Next Story

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.

Investment Property Realty Group’s Team Friedman brokers seven Bronx closings totaling $12.07 million

IPRG’s Team Friedman brokers 7 Bronx closings totaling $12.07m

Highcap Group sells Astoria 17 unit elevatored apartment building

OPEN Impact R.E. helps Coney Island Prep. secure 39-year leasehold condominium for new 45,190 s/f high school

OPEN Impact helps Coney Island Prep. secure leasehold condo. for new high school

New York restaurant group acquires Upper West Side retail co-op for $4.135 million in deal arranged by Lee & Associates NYC

N.Y. restaurant group acquires Upper West Side retail co-op for $4.135m in deal arranged by Lee & Associates NYC

READ ON THE GO

DIGITAL EDITIONS

Browse Now

Quick Hits

Brokerage

Taconic Partners signs Samudhra to 10,000 s/f restaurant lease at The Ellery in Hell’s Kitchen

Columns and Thought Leadership

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

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.

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