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Brokerage
Posted: July 15, 2013
Salvatico, Riney, and Saros of Marcus & Millichap broker $2.2 million sale
Marcus & Millichap Real Estate Investment Services, the nation's largest real estate investment services firm, has announced the sale of 359 Manhattan Avenue, an eight unit mixed-use property located in Brooklyn, NY, according to John Horowitz, regional manager of the firm's Brooklyn office. The asset commanded a sale price of $2.2 million.
Michael Salvatico, Shaun Riney and Jim Saros, investment specialists in Marcus & Millichap's Brooklyn office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was secured and represented by Salvatico, Saros and Riney.
According to Saros, "This deal gave the buyer the opportunity to purchase a corner mixed-use building consisting of seven free market apartments and a corner retail. The price point of $440 per s/f speaks to the increasing strength of the rental and retail market east of the BQE in Williamsburg."
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