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Brokerage
Posted: March 1, 2016
Zeitchik, Edelkopf and Rybinskov of EPIC Commercial Realty broker $2.7 million sale
Justin Zeitchik, EPIC Commercial Realty
Baruch Edelkopf, EPIC Commercial Realty
Mike Rybinskov, EPIC Commercial Realty
Brooklyn, NY According to EPIC Commercial Realty, the firm completed the sale of 444 Melrose St. The mixed-use property sold for $2.7 million.
EPIC sales associates, Justin Zeitchik, Baruch Edelkopf and Mike Rybinskov sold the three-story building consisting of four residential units and two retail units.
The sale of 444 Melrose St. is one of the highest selling mixed use properties in Bushwick.
Zeitchik said, “The way the building is positioned on the corner is very unique for the area with 100 s/f of frontage on Irving Ave. The buyer has a vision for the value in the retail for years to come.”
Edelkopf said, “The Bushwick area by the Jefferson Street L train has exploded within the last couple of years. We are now seeing institutional and foreign players investing within the neighborhood. The residential rents are now stable and we are now seeing the retail rents follow.”
444 Melrose St. offers the opportunity of free market value retail and residential income. The property is located at the corner of Melrose St. and Irving Ave., in the Bushwick neighborhood, with 100 s/f of frontage along Irving Ave. and one block from the Jefferson St. (L) train station.
With Williamsburg becoming one of the most expensive neighborhoods in the city, Bushwick has undergone an investment and development process over the last few years, particularly around the Jefferson St. (L) train station. With new retail shops, restaurants and nightlife areas continuously opening up around the neighborhood, Bushwick has become one of the most desirable areas of the borough.
444 Melrose Street - Brooklyn, NY
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