Scotto of CPEX sells warehouse for $475,000

CPEX has arranged the sale of 180 Park Ave. (63 Adelphi St.) located in the Fort Greene neighborhood. Associate director Mark Scotto of the New York industrial sales team was the exclusive broker on behalf of the seller. The property sold for $475,000. It was purchased by a local investor who will keep the current tenant in place but has an interest in developing the property in the future. 180 Park Ave. consists of a small warehouse as well as vacant land. The property is 2,800 s/f with the building comprising 1,500 s/f and the lot 1,300 s/f respectively. The building has been recently upgraded with new electric, plumbing and water lines. Other features include: fenced/gated yard, ceiling heights up to 16 feet, bathroom, gas heat, air conditioning, power roll up gate. The property is residentially zoned but has a commercial certificate of occupancy that allows for a variety of uses. The property sold for $475,000. It was purchased by a local investor who will keep the current tenant in place but has an interest to develop the property in the future. The sale is the first of the New Year for CPEX's Industrial Sales team. For further information, please contact CPEX, [email protected] , or (718) 935-1800. About CPEX: CPEX was founded in September 2008 by Timothy D. King and Brian T. Leary, two prominent leaders in the New York City commercial real estate industry. The founders have provided a broad range of real estate and business services locally, nationally and internationally throughout their career. CPEX provides a full range of services for both real estate and business owners, through our innovative operating platform and entrepreneurial culture. CPEX implements a team-based approach in which each group is focused on a specific business line, product type and definitive specialization for each market. Real estate services include: sales, leasing, acquisitions and advisory. Business services include: sales, acquisition, and advisory. To these teams, CPEX adds additional resources and support. Each business line is backed up with its own dedicated operations team. The operations team carries out tasks such as scheduling, preparing materials and documentation, client reporting, coordinating public relations, advertising and marketing efforts, and working with CPEX administration. Teams are further supported by our centralized in-house research, technology and marketing & media groups. This type of support allows our sales force and advisory team to remain singularly focused on executing assignments. The CPEX operating platform consisting of multiple people working together in a specialized system is proven achieve maximum resultsfor our clients.