M.C. O'Brien Inc. has completed sale of 1376 and 1414 Utica Ave., in the East Flatbush section. The $2.85 million sale was for a newly constructed three-story office building of 10,000 s/f, located at 1414 Utica Ave. and a parking lot up the block of 40x100 located at 1376 Utica Ave.
Cort and Medas LLC was the buyer and they will house the administrative offices of Tri Borough Home Care, a licensed home health care provider in the property. Financing for the transaction was secured through Park Ave. Bank and an SBA conduit which allowed Kenrick Cort, president of Tri Borough to secure 90% financing for the transaction. Cort first tried to buy the property from a previous owner in 2008 and had a chance to revisit the purchase when the tenant occupying the building defaulted and vacated.
William O'Brien, SIOR of M.C. O'Brien Inc. represented the buyer while the seller Marc Jacobowitz of Blue Jay Management was represented by David Junik of Greiner Maltz. Tags: