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New York & Tri-State  + Outer  + Apartments  | 

Crown Heights Apartments Trade for $6M After Value-Add

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Crown Heights’ investor appeal was demonstrated once again with the $6-million sale of 1043 Sterling Pl., a 17,320-square-foot apartment building. “The sale of 1043 Sterling demonstrates continued strong demand for high-quality multifamily stock within this subsection of Crown Heights,” said Marcus & Millichap’s Daniel Greenblatt.

Greenblatt and his colleague, Shaun Riney, represented the seller. The team also procured the buyer, who was not disclosed.

“The seller was able to exit after executing a disciplined value-add business plan,” Greenblatt said. “The buyer will add to an already impressive portfolio of multifamily within the submarket.”

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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