Darren Kearns, an agent from The Corcoran Group, represented the sellers of 238 Mulberry Street, which closed for $9.2M. Darren has known the owners of the building since 1996 and has been managing and leasing the apartments for more than 15 years. Leveraging his deep understanding of the market, strong rental history, distinctive design, and prime location, he consistently secured the highest monthly rental rates in the neighborhood, ensuring the property remained a high-income, sought-after asset.
Kearns says, “With over 15 years of experience representing the apartments at 238 Mulberry St., achieving record monthly rents, I was honored to secure one of the highest sales prices in the neighborhood. My deep knowledge of the building’s rental history and unique design helped maximize its value for both the sellers and the buyers.”
The buyers, GEF Development Corp, plan to keep the building as is: a ground retail tenant (currently Standard & Strange) and three residential apartments. Darren will continue to represent the apartments as they become available.
The sale was a co-exclusive with David Graff of The Polsinelli-Graff Team of Compass Commercial. David also has a history with the building, as he placed the retail tenant.
Kearns added: “My familiarity with the building, its tenants, and its financial performance allowed me to showcase its full potential, ultimately securing one of the highest sales prices in the neighborhood at $9.2 million. This sale was a testament to the enduring value of the property and the careful stewardship and strategic approach that made it such a success for both the sellers and the new buyers.”
