Sherman of Baseline Real Estate and Stavsky of SP Capital Group sell Brooklyn property for $37.1 million

 

 

Brooklyn, NY According to Michael Sherman, founder of Baseline Real Estate Advisors and Jacob Stavsky of SP Capital Group, they have completed the sale of 1704 Ocean Ave., in the Midwood neighborhood.

The sale price was $37.1 million.

1704 Ocean Ave. is a 64-unit new construction luxury building consisting of 60,000 s/f. The building was built in 2019. The purchasers are a private family that was advised by BEB Capital. The sellers are Yerachmael Jacobson and Marc Jacobowitz of Bluejay Management.

The sale price equates to $579,687 per unit and $618 per s/f. The deal closed on April 6^th, 2022.

1704 Ocean Ave. represents the best of NYC living. Located south of Ditmas Park and Kensington, this new residential development offers 64 residences, from the studio, one-, to two-bedroom apartments over seven stories. The apartments are appointed with condo finishes that combine a chic contemporary style. All of this is tied with the added convenience of a full suite of amenities, including a fitness center, resident’s lounge, and a landscaped roof deck.

“We were pleased to find a buyer in a 1031 exchange who was looking for best in market product in one of the most sought after neighborhoods in Brooklyn” said Sherman, who brokered the transaction with Stavsky.