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Deals & Dealmakers

Marcus & Millichap Brokers the sale of a 61 Unit Elevator Building in Midwood, Brooklyn

 Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 1685 East 5th Street, a 61-unit apartment property located in Brooklyn, NY, according to John Horowitz, first vice president/division manager of the firm’s Manhattan office. The asset sold for $12,500,000.

Dustin Cook and Matt Fotis, investment specialists in Marcus & Millichap’s Manhattan office, had the exclusive listing to market the property on behalf of the seller.  The Fotis Group also secured the buyer.

1685 East 5th Street is located just off the corner of Avenue P in Midwood, Brooklyn. The 55,000-square foot building consists of fifty-eight apartments and three offices. The building was immaculately maintained and boasts a 32KW solar panels on roof.

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