Shragaei and Landau of GFI Realty Services, Inc. arrange $5.2 million sale of two apartment buildings in East New York Section of Brooklyn

GFI Realty Services, Inc., one of the leading, New York-based commercial real estate services firms, arranged the package sale of 869 and 913 Thomas S. Boyland St., two four-story, walk-up apartment buildings located in the East New York section of the borough. The multifamily properties, which feature a total of 51 rental units and a cell phone tower, traded for a total of $5.2 million. GFI Realty represented both the buyer and the seller in the transaction. associate director Daniel Shragaei originated the deal, while associate director Joseph Landau procured the buyer, Coney Realty. "The deal traded for about eight times the rent, which you don't find too often in this market," Shragaei said. Landau said, "The buyers saw the great long-term potential in the properties. Not only were the buildings well maintained, but they are located within a six-minute walk to two parks and two playgrounds." The two buildings were constructed in 1930 and are close to the Rockaway Ave. and New Lots Ave. subway stations, which service the 2, 3, 4, 5 and L lines, and major thoroughfare Linden Boulevard.