Sigourney and Balisky of CPEX broker sale

The CPEX retail investment sales team has brokered the sale of a retail condominium at 68 Washington Ave. Situated in a seven-unit mixed-use building between Flushing and Park Aves. in the neighborhood of Clinton Hill, the ground floor retail space measures 1,824 s/f. Zoned M1-2, the space also comes with a 761 s/f cellar and a 193 s/f backyard. The property is adjacent to 275 Park Ave., which sold earlier this year for $68 million in the highest price for a residential complex in all of Brooklyn, according to an October 1st article in The Real Deal. The sales price was $900,000, or $493 per s/f. CPEX's retail sales team, consisting of associate director Andre Sigourney and associate Harrison Balisky, represented the seller. CPEX also procured the buyer, Thor Equities. "This particular block on Washington Ave. is undergoing a tremendous transformation," said Sigourney. "This stretch along Washington Ave. has seen its retail be revitalized recently, fueled in large part due to the proximity of the Brooklyn Navy Yard and Steiner Studios. Thor Equities has been extremely active in the retail condo market, and this purchase shows the growing potential of retail properties in the area."