Marcus & Millichap Arranges the Sale of a 32,120 Square-Foot Mixed-Use Building
BROOKLYN, NY, January 20, 2014– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of 215 Sterling Street, a 32,120 square-foot mixed-use property located in Brooklyn, NY, according to John Horowitz, regional manager of the firm’s Brooklyn office. The asset sold for $4,975,000 which represented approximately $155 per square foot.
Lucien Sproviero and Derek Bestreich, investment specialists in Marcus & Millichap’s Brooklyn office, had the exclusive listing to market the property on behalf of the seller, a private investor.The buyer, a private investor, was secured and represented by Bestreich and Sproviero.
“The rent stabilized property offered 38 apartments and 100 feet of vacant retail space on Rogers Avenue. We successfully navigated numerous hurdles through the sales process,” says Bestreich.
Press Contact: John Horowitz
Regional Manager, Brooklyn