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Marcus & Millichap Brokers The Sale Of A 61 Unit Elevator Building in Midwood, Brooklyn

November 04, 2022

BROOKLYN, NY, November 4, 2022 -- Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 1685 East 5th Street, a 61-unit apartment property located in Brooklyn, NY, according to John Horowitz, first vice president/division manager of the firm's Manhattan office. The asset sold for $12,500,000.

Dustin Cook and Matt Fotis, investment specialists in Marcus & Millichap's Manhattan office, had the exclusive listing to market the property on behalf of the seller. The Fotis Group also secured the buyer.

1685 East 5th Street is located just off the corner of Avenue P in Midwood, Brooklyn. The 55,000-square foot building consists of fifty-eight apartments and three offices. The building was immaculately maintained and boasts a 32KW solar panels on roof.

 

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About Marcus & Millichap (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.

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