Spielman and Shamel of GFI Realty facilitate $3.6 million sale

63 Whipple Street - Brooklyn, NY

Brooklyn, NY GFI Realty Services, LLC completed the $3.6 million sale of 63 Whipple St., a three-story, mixed-use building in the Williamsburg section of the borough. Located between Broadway and Throop Ave., the pre-war walk-up is composed of four large, newly renovated duplex units and two stores. In total, the building comprises 5,000 s/f.

GFI Realty associate Sylvia Spielman procured the buyer, a local investor. Yehoshua Shamel, also of GFI Realty, represented the seller. The seller is also a local investor.

“Williamsburg assets continue to have great value in the marketplace,” said Spielman. “More residents are moving to the area due to the reasonable commute to midtown Manhattan and a ‘neighborhood feel’ that can’t be duplicated in many areas of the city.”

Shamel said, “The sellers invested a lot in the improvement of this asset, gut renovating the entire building. They realized that a property of this type would trade easily in the current market conditions.”

The asset is situated off of Broadway, a major local commercial corridor, and is also blocks away from the J, M and Z subway lines.

GFI Realty Services, LLC imparts strategic and comprehensive solutions to maximize the value of real estate assets. Offering a wide array of brokerage services including investment sales, commercial real estate financing and retail leasing, GFI Realty Services, LLC utilizes its affiliate companies’ fully-integrated platform to provide owners, buyers, landlords and tenants nationwide with the market knowledge and due diligence required to consummate multifaceted transactions.

The company’s extensive knowledge of the commercial real estate industry, advanced analytical capabilities and incomparable client services position its executives as masters at executing off market and complex deals that require the most innovative solutions.