Vegh of Westwood Realty brokers $6.55 million sale of eight mixed-use buildings

Brooklyn, NY A private investor closed on an assemblage of eight mixed-use buildings in the Flatbush section for $6.55 million. The buildings 1341–1351 Flatbush Ave. consist of nine retail spaces, eight residential units and comprise a combined 18,200 s/f with over 230 linear ft. of retail frontage. The properties have 30,000 s/f of air rights. The seller, Israel Weinberger from Manhattan-based Coltown Group, purchased the property in September 2014 for $4.9 million. The buyers believe in the area and long-term upside, due to its proximity to mass transit and a lot of recent change in the immediate proximity. Steven Vegh of Westwood Realty Associates was the sole broker in the off-market transaction.