Beida of Eastern Union arranges sale of mixed-use property: $4.19 million
Brooklyn, NY According to Eastern Union, a five-story, mixed-use building located on a corner in the Park Slope neighborhood, was sold for $4.19 million.
The sale of 223 5th Ave. was secured by Jack Beida in his capacity as part of the investment sales division of Eastern Union.
Located on the corner of President St., the 12,240 s/f building is comprised of 12 apartments and four retail spaces. The residential component amounts to about 80% of the property’s overall square footage.
Beida represented the seller, Unipres Corp., and also procured the buyer, Prospect Acquisitions. He said the sale closed less than 60 days after going under contract.
“This building is situated on one of the most vibrant intersections in Park Slope, and the owner had frequently been solicited to sell over many years,” said Beida. “We’re gratified that the seller placed his confidence in Eastern Union to attract the best possible price and to swiftly execute the sales process.”
The transaction represented the first sale of the building in 37 years. The property was built in 1920.