Zach of Itzhaki Properties closes $1.525 million sale of 8,500 s/f building

Itzhaki Properties has completed the sale of 1020 Manhattan Ave., located in the Greenpoint Neighborhood. The building sold for $1.525 million in an all-cash transaction, which took less than 60 days to close. The 8,500 s/f mixed-use property contains seven residential apartments and five retail units. Shay Zach, managing partner at Itzhaki, represented both the buyer and the seller. Future plans for the property includes a development of an L shaped lot in the back of the property on Greene St. "We are currently very active in the Greenpoint/Williamsburg /Bushwick submarkets, and are constantly seeking options to bring the best price to sellers at these hard times," said Zach.