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Atlas Realty Markets Midwood Apartments
Atlas Realty Group Partners (ARG) has won the sales assignment for 1320 Coney Island Ave., a 24,000 square-foot, 32-apartment, four-storefront building in Brooklyn’s Midwood section. ARG principal Shlomo Antebi is the lead broker for this assignment, which has a price target of $7,850,000.
The building’s four storefronts are currently occupied along with 91% of its apartments, most of which are rent-stabilized, according to ARG.
“Because 31 of 32 apartments are rent-stabilized and the building is in excellent condition, resident retention is a major selling point for this property,” Antebi said. “In addition, commercial occupants love the building for its attentive management and location in one of Brooklyn’s most bustling neighborhoods.
“Landlords looking for an asset that both produces reliable cashflow and is positioned for steady appreciation should have 1320 Coney Island Avenue at the top of their lists,” he added.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
