Press Release brought to you by Marcus & Millichap

Marcus & Millichap Sells Brooklyn Heights Mixed-Use Building

01/31/2014

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

(718) 475-4300

www.MarcusMillichap.com

01/31/2014 - 11:00

Source

Marcus & Millichap

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