Yankelovich and Sadaghati of GFI complete $15 million sale of 415 Washington Avenue; on behalf of seller, DSA Management and buyer, Akelius USA

Brooklyn, NY GFI Realty Services, LLC arranged the $15 million sale of 415 Washington Ave., a six-story, 25-unit apartment building located in the Clinton Hill section of the borough. Erik Yankelovich and Shawn Sadaghati brokered the transaction. The seller is Arik Lifshitz of DSA Management and the buyer is Akelius USA. The elevator building consists of a mix of two, three, and four-bedroom residential units. A pre-war building, 415 Washington’s large residences feature the high ceilings, large closets and hardwood floors associated with buildings of that era. “In recent months, Akelius USA has become very active in New York, aggressively acquiring hundreds of multifamily units in prime neighborhoods in Manhattan and Brooklyn,” said Yankelovich. “As the company sought to continue to add to its New York City portfolio, we connected them with this off-market multifamily building that provided the sort of stable investment opportunity they were looking for. There are very few sizable quality apartment buildings available for sale in the prime parts of Clinton Hill, and Akelius was eager to acquire a property with such excellent potential for revenue.” Located on a tree-lined block, 415 Washington is located in close proximity to the Barclay’s Center and several colleges, shops and restaurants. Twelve of the apartments are free-market units, while four are rent-controlled, and nine are rent-stabilized. “To date, not many pre-war buildings like this one have traded in Clinton Hill,” said Sadaghati. “DSA Management had acquired the property for $10.25 million barely over a year ago. They ultimately chose to sell the property, as the value has gone up tremendously within a short period of time, and decided to transition into another deal.” GFI Realty is extremely active in arranging investment sales transactions for properties across New York City. Recent deals include the sale of 11 East 115th Street, a development site in East Harlem; 175 Ocean Parkway, a walk-up apartment building in the Kensington section of Brooklyn; and 3750 Broadway, a mixed-use building in Washington Heights.