Marcus & Millichap, one of the leading commercial real estate investment services firms with offices throughout the U.S. and Canada, arranged the sale of 313 99th St., a 6-unit apartment property, according to John Horowitz, regional manager of the firm's Brooklyn office. The asset sold for $1.16 million.
Mark Zarrella and John Brennan, from Marcus & Millichap's Brooklyn office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor was secured and represented by Brennan and Zarrella.
"313 99th St. was sold at a 4.33% cap-rate, which is a strong reflection on the desirability of this particular area of Bay Ridge. The property was in turn-key condition offering the buyer steady cash flow day one," said Brennan. Tags: