GFI Realty Services, Inc. has completed the sale 17-31 Linden St., a three-story walk-up apartment building located in the Ridgewood section for $1.5 million or $250,000 per unit. This 1930's constructed multifamily property consists of six apartments, four of which were delivered vacant.
Alexandra Rossland of GFI Realty Services, Inc. represented the seller and Gavin Bolsom, also of GFI, represented the buyer. Both the buyer and seller are local investors.
"The property benefits from the high demand on the area and the seller decided to capitalize on this opportunity," Rossland said.
"The buyer viewed this property as a great addition to his portfolio and recognized the tremendous value in four of the units being delivered vacant," Bolsom said. "He intends to maximize this upside potential."
The property is located in close proximity to mass transportation and major commercial corridors including Broadway and Myrtle Ave. Tags: