Wednesday, December 5, 2012

Brooklyn, NY Apartment Building Sells for $16 Million



Peter Von Der Ahe
 BROOKLYN, NY – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of 105 Grand Avenue, a 36-unit apartment building located in Brooklyn’s Clinton Hill neighborhood. The $16 million sales price equates to $444,444 per unit.

Peter Von Der Ahe, a first vice president investments, Joe Koicim and Scott Edelstein, vice presidents investments, and Sean Lefkovits, an associate, all in Marcus & Millichap’s Manhattan office, represented the seller, a Brooklyn-based investment group. Von Der Ahe, Koicim, Edelstein and Lefkovits also represented the buyer, Springhouse Partners.

Joseph Koicim
             “With vacancy in Brooklyn and Queens compressing to the lowest level in nearly a decade this year, local, out-of-state and international investors are actively seeking high-quality multifamily assets in the New York City area,” says Koicim. “105 Grand Avenue’s modern design and central Clinton Hill location added to the overall attractiveness of this investment opportunity.”

            The seven-story elevator building is located at 105 Grand Ave. in Brooklyn. The Pratt Institute is across the street and Fort Greene Park is nearby. 

The building’s unit mix features studios and one- and two-bedroom apartments. Amenities include a gym and a rooftop deck with views of Manhattan.

Contact:

Marcus & Millichap
Public Relations
(925) 953-1716


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