Marcus & Millichap Arranges The Sale Of A 6,000 Square-Foot Industrial Building
BROOKLYN, NY, August 28, 2013– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of 818 Humboldt Street, a 6,000 square-foot industrial property located in Brooklyn, NY, according to John Horowitz, Regional Manager of the firm’s Brooklyn office. The asset sold for $1,520,000 which represented approximately $253 per square foot.
Jakub Nowak, Shaun Riney and Michael Salvatico, investment specialists in Marcus & Millichap’s Brooklyn office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer was secured and represented by Salvatico, Nowak and Riney.
According to Mr. Nowak, “The sale of this single story 6000 square foot warehouse at $20,000 dollars over the original asking price highlights a growing supply and demand disparity in the North Brooklyn Industrial marketplace. The demand for inventory under 10,000 square feet from owner-users in this area is strong, while opportunities to make a purchase in this size range are rare.”
Press Contact: John Horowitz
Regional Manager, Brooklyn
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With more than 1,000 investment professionals in offices nationwide, Marcus & Millichap Real Estate Investment Services is the largest firm specializing in commercial real estate investment services in the nation. Marcus & Millichap closed 6,149 transactions in 2012, the highest of any commercial real estate brokerage firm. Founded in 1971, the firm has perfected a powerful system for marketing properties that combines product specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology and relationships with the largest pool of qualified investors nationally.