New Construction Trades in Prospect Heights
A six-story elevatored apartment building in Brooklyn’s Prospect Heights neighborhood has changed hands from one private investor to another. Marcus & Millichap’s Matt Fotis and Dylan Renicker brokered the $8.6-million sale of the 21-unit 528-530 Bergen St.
“This property offers investors the rare opportunity to purchase a newly- constructed elevator apartment building with an extended tax abatement and onsite parking in the prime Prospect Heights section of Brooklyn,” said Fotis.
Recently, he continued, “we have seen more interest from unsuspecting buyers for recently-constructed apartment buildings with 421a tax abatements in Brooklyn. Ultimately, a local investor in a 1031 exchange purchased the building above our updated asking price.”
For comments, questions or concerns, please contact Paul Bubny