Michael Sherman, Founder of Baseline Real Estate Advisors and Jacob Stavsky of SP Capital Group are proud to announce the sale of 1704 Ocean Avenue, in the Midwood section of Brooklyn for $37,100,000. 1704 Ocean Avenue is a 64 unit new construction luxury building consisting of approximately 60,000 SF. The building was built in 2019. The purchasers are a private family that was advised by BEB Capital. The sellers are Yerachmael Jacobson and Marc Jacobowitz of Bluejay Management.
The sale price equates to $579,687 per unit and $618 psf. The deal closed on April 6th, 2022.
1704 Ocean Avenue represents the very best of New York City living. Located just south of Ditmas Park and Kensington in the Midwood section of Brooklyn, this new residential development offers 64 stunningly spacious residences, from the studio, one-, to two-bedroom apartments over seven stories. The expansive apartments are impeccably appointed with condo finishes that combine a chic contemporary style. All of this is tied with the added convenience of a full suite of luxury amenities, including a state-of-the-art fitness center, resident’s lounge, and a landscaped roof deck.
“We were pleased to find a buyer in a 1031 exchange who was looking for best in market product in one of the most sought after neighborhoods in Brooklyn” says Michael Sherman founder of Baseline Real Estate Advisors who brokered the transaction with Jacob Stavsky of SP Capital Group