Marcus & Millichap brokers $2.8 million sale of free-market mixed-use property in Brooklyn

Brooklyn, NY Marcus & Millichap brokered the sale of 733 Dekalb Ave., a fully free-market multifamily and retail property in the Bed-Stuy neighborhood. The asset sold for $2.8 million.

“This is the second time in five years our team has sold this property,” said Daniel Greenblatt of Marcus & Millichap’s New York City office. “The last buyer captured a strong return for their investors, and the new owner is stepping into real upside on the income side. There continues to be strong demand for free-market mixed-use properties in the Bed-Stuy submarket.”

Greenblatt, Shaun Riney and Michael Salvatico of Marcus & Millichap exclusively marketed the property on behalf of the seller, Aperture Holdings and procured the buyer, the Miller Family.

The three-story, 4,875 s/f building is on a 2,500 s/f lot and was built in 1931. The property includes five residential units, four three-bedroom and one four-bedroom apartment. The ground-floor commercial space is leased to a long-term furniture and design studio.

The property is located near Herbert Von King Park and the Myrtle-Willoughby subway station serving line G.