Brooklyn, NY GFI Realty Services, LLC has completed the $1.4 million sale of 3008 Avenue K, a pre-war mixed-use building in the Midwood section. GFI Realty associate director Yisroel Pershin and associate Eli Shilian represented the seller, while Shilian represented the buyer. Both the buyer and seller are local investors.
The 4,560 s/f building is composed of three one-bedroom units and two two-bedroom units, all of which are free market. In addition, there is an 850 s/f ground-floor retail space. The property is situated off of Nostrand Ave., a commercial corridor, and in close proximity to Kings Hwy., a local destination for shops, cafés and restaurants.
“The buyer recognized the tremendous value in this asset, particularly as it pertains to the future upside in the residential rents and the untapped potential of the prime retail space,” said Shilian.
Midwood is a middle-class neighborhood known for the suburban feel created by its tree-lined streets, Victorian homes and quaint shops. This mixed-use asset is located near local and national businesses, and is close to the 2 and 5 subway lines.