Marcus & Millichap - Tri Borough Multi-Family

468 2nd Street

468 2nd Street
, Brooklyn

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Price: $1,600,000
Building Size: 3,300 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 468 2nd Street, in the Park Slope section of Brooklyn, NY. The building was in good condition and composed of 5 apartment units. The owner was retiring and no longer wanted the obligation of managing the property. The biggest challenge in selling the property was that the building was classified as commercial which limited the type and amount of financing available. Ultimately, we procured an owner/user that purchased the property all cash without getting a mortgage from a bank and closed in 30 days from contract signing. The buyer plans on converting the building to a two family and occupying most of the property.