Marcus & Millichap - Tri Borough Multi-Family

40 Cumberland Street

40 Cumberland Street
, Brooklyn

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Price: $1,410,000
Building Size: 7,800 Square Feet
Property Type: Multi Family
Exclusive Listing Team:
Matt Fotis
Tel: 212-430-5206

In the summer of 2010, we were hired exclusively to market an apartment building at 40 Cumberland Street, in the Clinton Hill section of Brooklyn, NY. The building was composed of 12 apartment units. The owner was in distress and needed to sell quietly and quickly. The biggest challenge in selling the property was the limited amount of exposure we were able to provide the owner under the circumstances and a few non-conforming issues existing inside the building. Ultimately, we procured an all cash buyer who closed quickly without a mortgage from a bank.