Marcus & Millichap Sells Brooklyn Heights Mixed-Use Building
BROOKLYN, NY, January 31, 2014– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of 115 Atlantic Avenue, a 5,370 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 $3,400,000 which represented approximately $843 per square foot.
Shaun Riney, Joe Koicim and Peter Von Der Ahe from Marcus & Millichap’s Brooklyn and Manhattan 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 Shaun Riney and Patxi Colbern.
“The sale of 115 Atlantic Avenue at a price point of $843 per above grade square foot, un-renovated and with vacant retail, speaks for itself. Investors are making a strong bet on the strengthening of this corridor with the addition of Brooklyn Bridge Park and the potential of a looming Long Island College Hospital conversion,” says Riney.
Press Contact: John Horowitz
Regional Manager, Brooklyn