Marcus & Millichap - Tri Borough Multi-Family

5122 Snyder Avenue

5122 Snyder Avenue
, Brooklyn

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Price: $1,295,000
Building Size: 13,200 Square Feet
Property Type: Multi Family
Exclusive Listing Team:
Matt Fotis
Tel: 212-430-5206

In March of 2011, we were hired exclusively to market an apartment building at the corner of East 51st Street and Snyder Avenue in the East Flatbush section of Brooklyn, NY. The property consisted of 9 one-bedroom units and 7 two-bedroom units. We were able to generate 12 competitive offers in writing. The biggest challenge in selling the building was the large amount of NYC HPD violations associated with the property. Ultimately, we procured a buyer who was in a 1031 Exchange, able to obtain attractive financing from a local savings bank and closed in 90 days on an “All Cash” basis.