Marcus & Millichap brokers $13.8 million sale of historic buildings

Brooklyn, NY Marcus & Millichap completed the sale of two historic buildings. The assets sold for $13.8 million.

"This sale is an example of the tremendous demand of vacant, free market redevelopment properties in North Brooklyn,” said Michael Salvatico. “Moreover, we garnered over 14 offers in writing on the property.”

Salvatico, Shaun Riney, and Samuel Leppo, investment specialists in Marcus & Millichap’s Manhattan office, had the exclusive listing to market the property on behalf of the seller and procured the buyer, both private investors.

Situated at 101-109 South 6^th St., the properties are located in the Williamsburg neighborhood, three blocks from the Williamsburg waterfront. The 19^th-century Romanesque Revival-style building on 101-107 South 6^th St. is slated for residential conversion, resulting in 29 apartments and 5,444 s/f of commercial space. The 19^th-century storefront apartment building at 109 South 6^th St. will undergo interior renovations on its second and third floors.