News: Brokerage

Marcus & Millichap brokers two Brooklyn sales totaling $1.835 million; Includes the $1.05 million sale of an eight-unit apartment by thomsen

According to John Horowitz, a regional manager at Marcus & Millichap Real Estate Investment Services, the firm has completed two sales totaling $1.835 million. The deals include: * The $1.05 million sale of 474 60th St., an eight-unit apartment. Bruce Thomsen, an investment specialist at Marcus & Millichap, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was also secured by Thomsen. * The $785,000 sale of 172 Lefferts Place, a six-unit, 3,600 s/f apartment building. Erik Lundberg and Shaun Riney, investment specialists at Marcus & Millichap, 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 Lundberg, Riney, and Matthew Fotis, also an investment specialist at Marcus & Millichap. "172 Lefferts Place, a completely gut renovated, 3,600 s/f, six-family brownstone, is located in an appreciating sub-section of Clinton Hill, between Franklin and Classon Aves. There was tremendous demand for this asset in a very limited 30-day marketing period, and the property closed with an all-cash buyer above the asking price, less than 60 days after Marcus & Millichap was hired to execute on the seller's behalf. As the new owners watch this particular block mature, they will benefit from the strong existing income and cash flow the property generates in the interim," said Riney.
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