Press Release brought to you by Cushman & Wakefield Capital Markets Group New York

Cushman & Wakefield Sells Multifamily Building in Greenwood Heights

10/16/2015

A multifamily building at 122 33rd Street, located between Third and Fourth Avenues in Brooklyn’s Greenwood Heights neighborhood, was sold in an all-cash transaction valued at $1,650,000.

The three-story building contains approximately 5,750 square feet on a 25’ x 100.17’ lot. It consists of six, three-bedroom units, three of which were delivered vacant. The sale price equates to approximately $287 per square foot.

The building is ideally located in close proximity to the D, N, and R trains at the 36th Street station, offering access to Downtown Brooklyn and Manhattan within 15-20 minutes.

“Given the three vacancies and outdated condition of the building, it was well positioned for renovation, making it highly attractive to value-add investors,” said Cushman & Wakefield’s Aaron Warkov, who exclusively handled this transaction with Michael Amirkhanian.  “In addition, investors liked its location near express subways and proximity to Industry City.  We toured with over 50 groups and received over 20 offers,” Warkov continued.

10/16/2015 - 17:00

Source

Cushman & Wakefield Capital Markets Group New York

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