News
Brooklyn Apartments Sell for $22.1M
PUBLICATION: multihousingnews.com
Date: Nov 11, 2011
Brooklyn, N.Y.—GFI Realty Services Inc. has brokered the sale of 3101 and 3115 Avenue I, two six-story elevator buildings in Brooklyn with a combined 154 rent stabilized units, for $22.1 million. GFI’s Yanni Simantov represented the seller, Elias Mallouck Realty, and Josh Orlander, also from GFI, represented the buyer, The Parkoff Organization.
“The property represented a great opportunity to acquire a large number of units together in buildings that don’t have any violations,” says Simantov. “The buildings have been owned by the same family for about 80 years and are in impeccable condition.”
The complex was built in 1935 and is located next to Brooklyn College and the Flatbush Avenue retail corridor. The asset was on the market for 10 days before GFI sealed the $22.1 million price tag.
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