Press Releases
Marcus & Millichap Brokers $13.8 Million Sale of Historic Buildings in Brooklyn
February 08, 2024
NEW YORK, Feb. 8, 2024 – 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 two historic buildings in Brooklyn, New York. The assets sold for $13,800,000.
"This sale is an example of the tremendous demand of vacant, free market redevelopment properties in North Brooklyn,” said Michael Salvatico. “Moreover, we garnered over 14 offers in writing on the property.”
Salvatico, Shaun Riney, and Samuel Leppo, investment specialists in Marcus & Millichap’s Manhattan office, had the exclusive listing to market the property on behalf of the seller and procured the buyer, both private investors.
Situated at 101-109 South 6th St., the properties are located in the Williamsburg neighborhood, three blocks from the Williamsburg waterfront. The 19th-century Romanesque Revival-style building on 101-107 South 6th St. is slated for residential conversion, resulting in 29 apartments and 5,444 square feet of commercial space. The 19th-century storefront apartment building at 109 South 6th St. will undergo interior renovations on its second and third floors.
"This sale is an example of the tremendous demand of vacant, free market redevelopment properties in North Brooklyn,” said Michael Salvatico. “Moreover, we garnered over 14 offers in writing on the property.”
Salvatico, Shaun Riney, and Samuel Leppo, investment specialists in Marcus & Millichap’s Manhattan office, had the exclusive listing to market the property on behalf of the seller and procured the buyer, both private investors.
Situated at 101-109 South 6th St., the properties are located in the Williamsburg neighborhood, three blocks from the Williamsburg waterfront. The 19th-century Romanesque Revival-style building on 101-107 South 6th St. is slated for residential conversion, resulting in 29 apartments and 5,444 square feet of commercial space. The 19th-century storefront apartment building at 109 South 6th St. will undergo interior renovations on its second and third floors.
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About Marcus & Millichap, Inc. (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, 2023, the company had 1,783 investment sales and financing professionals in over 80 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 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.
