66-Unit Bay Ridge Apartments Sold for $14M
A 66-unit apartment property in Brooklyn was sold for $13.5 million. The name of the buyer and seller were not disclosed.
Located at 252 74th St in Bay Ridge, the apartments offer access to various parts of Brooklyn. Shaun Riney and Mark Zarrella of Marcus & Millichap marketed the property on behalf of the seller and the buyer.
Mark Zarrella, an investment specialist at Marcus & Millichap’s New York City office, noted that the recent introduction of a new ferry route has positively impacted the Bay Ridge neighborhood’s rent levels and pricing, leading to increased interest from new investors looking to tap into the area’s potential.
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