Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of 40 Nostrand Avenue, a four-story, mixed-use building that consists one retail unit and six residential units, located between Flushing Avenue and Park Avenue in the Bedford-Stuyvesant section of Brooklyn, New York. The asset sold for $2,000,000.
Matt Fotis and Dylan Renicker of Marcus & Millichap’s Manhattan office, represented the seller, a private investor, and procured the buyer, also a private investor. John Horowitz, Regional Manager of Marcus & Millichap’s Brooklyn Office acted as the Broker of Record.
“40 Nostrand is a large building for the number of units inside which presents a great opportunity for the new owner,” says Fotis.
“These small multifamily and mixed use buildings continue to attract plenty of attention from both local and out of market buyers.”
The property, an attractive unit mix with low average rent, is located on the Nostrand Avenue retail corridor, and offers 32.25 feet of retail frontage on Nostrand Avenue.
Add Comment