GFI Realty Services Inc., announced the sale of 216-218 East 39th Street in the East Flatbush section of Brooklyn, for $715,000 which translates to 7.25 times the rent roll and $79,000 per unit. The three story walk up apartment building consists of nine units totaling approximately 9,600 s/f. Shlomo Antebi, a director of GFI Realty Services Inc., represented the buyer and seller, both of whom are local investors. The buyer plans a long term investment in the property.
Marcus & Millichap Real Estate Investment Services announced the sale of Rite Aid, a 14,673 s/f Net Leased property in Lansingburgh, NY, for $6,175,000. Preet Sabharwal represented the seller, a developer. The buyer, a private investor, was secured and represented by Preet Sabharwal and Lazarus Apostolidis. Marcus & Millichap was able to obtain non- recourse 10-year financing for the purchaser.
Massey Knakal announced the following sales:
• A development site at 436-438 Albee Square in Downtown Brooklyn sold for $3,000,000. The site consists of a rent stabilized, three-story building and can accommodate a total of approximately 52,391 buildable square feet. This site is directly across the street from the development of the Albee Square Mall or “City Point,” which will become one of the largest developments in Brooklyn. Stephen P. Palmese exclusively handled this transaction.
• A mixed-use building at 307 Knickerbocker Avenue sold for $1,450,000. The four-story building contains approximately 6,500 s/f and consists of two retail units with six residential units above. The sale price equates to approximately $223 psf. Mike Amirkhanian handled this transaction.
• An industrial building at 324-326 Ten Eyck Street in Brooklyn’s East Williamsburg neighborhood, was sold for $1,850,000. The one-story brick building contains 6,379 square feet a curb-cut, roll-up gate and loading dock. Mark Lively handled this transaction with Brendan Maddigan.
Massey Knakal Realty Services announced the following exclsuive sales assignments:
• A brownstone at 352 East 50th Street, between First and Second Avenues, is asking $4,400,000. The building contains approximately 4,350 s/f and is configured as three residential units. Clint Olsen is exclusively marketing this property with Brock Emmetsberger.
• A retail development site at 1550 Bedford Avenue. The property is on the corner of Bedford Avenue and Eastern Parkway on the border of Brooklyn’s Crown Heights and Lefferts Gardens neighborhoods. Ownership is accepting offers. This lot is currently used as a gas station. It has substantial development potential, holding up to approximately 38,400 buildable square feet. Edward Gevinski and Michael Amirkhanian are hanlding the assignment.
• The lease of commercially zoned land at 8200 18th Avenue and 8121 New Utrecht Avenue. The site is available for triple net lease at $575,000 per year. This property contains 60,288 s/f of commercial zoned land, and is currently triple net leased to an affiliate of Waldbaum’s until December 31, 2013. Jeffrey Shalom is exclusively marketing this property with Paul J. Massey, Jr.
NLC Realty, LLC is Marketing a 5-story corner building in Washington Heights for sale. The 24,710 s/f property contains 29 apartments and two retail stores. The asking price is $5,300,000. Nicole Carra is handling the assighnment.
Weichert Commercial Brokerage, Inc. has been appointed as the exclusive agent to market for lease and for sale four office/flex buildings in Fairfield, New Jersey. Peter E. Ricker, Jr. is handling the marketing of these properties. The properties, located at 264 Passaic Avenue and 6, 7 & 10 Kingsbridge Road in Fairfield, New Jersey, have a combined 111,169 s/f of office/flex space on 10.77 acres. They are situated on a private cul-de-sac and offer a park-like setting. The buildings are for sale and there is space up to 13,000 s/f available for lease.