Shragaei of GFI Realty Services secures $1.025 million sale of three story walk-up apartment at 243 Harman Street

GFI Realty Services Inc. arranged the $1.025 million sale of 243 Harman St., a three story walk-up apartment building located in the Bushwick section of the borough. The transaction translates to ten times the rent roll and $170,000 per unit. The property, constructed in the 1931, consists of six apartments totaling 4,125 s/f. Daniel Shragaei, an associate director of GFI Realty Services, Inc. represented the seller and the buyer, both are local investors. "The new owner seized on the opportunity to purchase this piece in Bushwick, an area with strong rental demand. He intends to complete numerous capital improvements to upgrade the apartments as well as the overall condition of the property," said Shragaei. This multifamily apartment building is located in close proximity to the L train and Broadway, a major commercial corridor in Bushwick.