Brooklyn, NY Working remotely and safely to close deals, Silber Investment Properties closed three sales totaling $9 million:
- 5101-5123 Ave U & 2461-2481 Flatbush Ave. sold for $6.675 million. Aaron Etessami of Silber represented the buyer, Semyon Vays of 2425 Sum Associates LLC, and Adam Silber of Silber represented the seller, Thaler Realty Corp. The subject totals 14,800 s/f with tenants including Vitamin Shoppe, Brooklyn Eats, and MetroPCS.
- AutoZone, located at 1365 Upper Front St. in Binghamton sold for $925,000 at a 5.4% cap rate. Stuart Frankel of Silber represented both the buyer, Commercial Ave Holdings LLC, and seller, Jeremy Hilts. Through a national marketing campaign, this Silber exclusive received numerous offers, which resulted in a bidding war over the property. Silber guided the seller to select a buyer who was in a 1031 exchange, resulting in a deal at the highest price with the best terms. The subject totals 7,381 s/f on a 0.93 acre site, with an absolute NNN ground lease - corporate guarantee from AutoZone, Inc.
- The firm also handled the $1.4 million sale of AutoZone located at 1102 Dallas Cherryville Hwy. in Dallas, N.C. (6.8% cap rate) Mike Marino of Silber represented the seller, Joel Rigter and Frankel represented the buyer, Agree Realty Corp. This off-market deal closed within 30 days of contract signing between the private seller and a national REIT as the buyer.
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