Marcus & Millichap arranges $1.2 million sale of 6-unit apartment building

Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the U.S. and Canada, arranged the sale of 330 Starr St., a 6-unit apartment property, according to John Horowitz, regional manager of the firm's Brooklyn office. The asset sold for $1.2 million which represented approximately $203 per s/f. Shaun Riney and Dan Greenblatt 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 Greenblatt and Riney. "We received a tremendous amount of activity on this property, generating 17 offers in writing over the course of three weeks on the market, before finally settling on a price well above ask. This is yet another example of the explosive demand for multifamily product in the Bushwick submarket," says Greenblatt.