Marcus & Millichap - Tri Borough Multi-Family

345 & 347 Flatbush Ave

345 & 347 Flatbush Ave
, Brooklyn

info heading

info content

Price: $3,800,000
Building Size: 6,934 Square Feet
Property Type: Mixed-use
Exclusive Listing Team:
Matt Fotis
Tel: 212-430-5206

In the winter of 2006, we were hired exclusively to market two mixed-use properties at 345-347 Flatbush Avenue in the Prospect Heights/Park Slope section of Brooklyn, NY. It was composed of 2 apartment units and 8 retail units. The seller was retiring and no longer wanted to manage the property, they were fortunate to have chosen a time in the market where values had peaked. We were able to generate 16 competitive offers in writing. Ultimately, we procured a buyer in a 1031 Exchange, who paid $150,000 over our next highest offer and closed in 60 days while still obtaining a mortgage from a bank.