New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Bed-Stuy Sees Trade of 4-Story MXU
Marcus & Millichap has arranged the sale of 40 Nostrand Ave., a four-story, mixed-use building with retail and six residential units, located between Flushing and Park avenues in the Bedford-Stuyvesant section of Brooklyn. The property traded for $2 million.
The firm’s Matt Fotis and Dylan Renicker 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,” said Fotis. “These small multifamily and mixed-use buildings continue to attract plenty of attention from both local and out of market buyers.”
The property, offering an attractive unit mix with low average rent, is located on the Nostrand Avenue retail corridor, with 32.25 feet of retail frontage on Nostrand Avenue.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
