Marcus & Millichap - Tri Borough Multi-Family

334 Dean Street

334 Dean Street
, Brooklyn

info heading

info content

Price: $1,545,000
Building Size: 6,800 Square Feet
Property Type: Multi Family
Exclusive Listing Team:
Matt Fotis
Tel: 212-430-5206

In the fall of 2008, we were hired exclusively to market an apartment building at 332 Dean Street, in the Boerum Hill section of Brooklyn, NY. It was composed of 12 apartment units. The seller was retiring and no longer wanted to manage the property. The biggest challenge in selling the property was that the marketing time occurred during the beginning of the economic crisis in the United States and collapse of Lehman Brothers, which caused the market to change significantly and quickly. We were able to generate 19 competitive offers in writing. Ultimately, we procured a first time buyer who closed in 75 days while still closing with a mortgage from a bank.