Yankelovich of GFI Realty Services secures $14.25 million sale; 15-21 Crooke Avenue - 54-unit apartment building

GFI Realty Services, Inc. arranged the $14.25 million sale of 15-21 Crooke Ave., a multifamily building in the Prospect Park South section of the borough. GFI Realty arranged the off-market transaction, with GFI Realty senior director of investment sales Erik Yankelovich representing the buyer, a local investor. The elevator building consists of 54 pre-war residential units. The six-story building, which is located steps from Prospect Park, traded at $264,000 per unit. "This deal is a testament to both the strength of the market and the wide range of industry relationships we have fostered," said Yankelovich. "The apartment building is an excellent property in a sought-after location. Its charming, pre-war residential units have great appeal, and its excellent cash flow provides the buyer with significant value." The Brooklyn neighborhood of Prospect Park South is located immediately south of the eponymous park. The property is in close proximity to the park, Brooklyn Botanical Gardens and the B, F, G and Q trains. This deal comes on the heels of several record-setting deals arranged by Yankelovich in neighboring areas. Notably, Yankelovich brokered the sale of 115 Ocean Avenue in neighboring Prospect Lefferts Gardens, which set neighborhood records in terms of price per unit, price per square foot and rent roll multiple. He also arranged for the sale of 910 81st Street, a mixed-use multifamily building in Dyker Heights, which traded for a per-unit price that eclipsed previous neighborhood transactions. A leader in New York City real estate, GFI Realty is extremely active in arranging investment sales for properties across the city. Recent deals include the sale of 41-43 Greene Street, a retail co-op in Manhattan's SoHo neighborhood, and 469 West 153rd Street, a walk-up apartment building in the Hamilton Heights section of Manhattan.