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.
Sunset Park Multifamily Trades After 50-Year Hold
GFI Realty Services closed the $1.475-million sale of 751 55th St., a three-story walk-up, six-unit multifamily property located in Brooklyn’s Sunset Park neighborhood. This is the first trade of this asset in more than 50 years.
Zachary Fuchs, associate with GFI, represented both the seller, the Giancola Family, and buyer, Henry Koon.
Constructed in 1917, the 3,855-square-foot property is comprised of two-bedroom units. Five of the apartments are free market.
“The sellers realized that investors would be attracted to this stable cash-flowing multifamily asset, where the majority of the units are free market,” said Fuchs. “The property is located just blocks from the 7th Avenue commercial corridor, where numerous national and local retailers are situated.”
- ◦Sale/Acquisition

