Paneth of GFI Realty Services arranges $1.25 million multifamily sale

GFI Realty Services has completed the sale of 2574 Bedford Ave. (2313-2323 Ave. D) in Brooklyn. The four-story, 18,000 s/f walk up residential building with 16 units sold for $1.25 million. Shulem Paneth, senior broker at GFI Realty Services represented both the buyer and the seller in this transaction. "This was the buyer's first purchase of a residential building," said Paneth. "He recognized the upside potential of the building and put in an offer immediately after his first showing. Within one day he was ready to work on the contract preparation and we were able to close the deal seamlessly, in just four months." The new buyer intends to upgrade the units and install security systems throughout the building. The building is in walking distance to a main shopping thoroughfare on Flatbush Ave. and close to the 2 and 5 subway lines.