Marcus & Millichap - Tri Borough Multi-Family

23 Pierrepont Street

23 Pierrepont Street
, Brooklyn

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Price: $1,650,000
Building Size: 5,231 Square Feet
Property Type: Multi Family
Exclusive Listing Team:
Matt Fotis
Tel: 212-430-5206

In the spring of 2010, we were hired exclusively to market an apartment building at 23 Pierrepont Street, in the exclusive Brooklyn Heights section of Brooklyn, NY. The building was in good condition and composed of 8 apartment units, 4 units renting well below the market and 4 units were delivered vacant at closing. The owner was retiring, lived a reasonable distance outside of Brooklyn and no longer wanted the obligation of managing the property. Ultimately, we procured an Owner/User who planned on occupying the property and completely vacating the building over time in order to convert into a single family home. The buyer closed 60 days after signing the contract without obtaining financing from a bank.