June 14, 2018 Comments Off on Crown Heights Apartments Trade for $6M After Value-Add Views: 2861 New York News, Outer Boroughs New York

Crown Heights Apartments Trade for $6M After Value-Add

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Crown Heights’ investor appeal was demonstrated once again with the $6-million sale of 1043 Sterling Pl., a 17,320-square-foot apartment building. “The sale of 1043 Sterling demonstrates continued strong demand for high-quality multifamily stock within this subsection of Crown Heights,” said Marcus & Millichap’s Daniel Greenblatt.

Greenblatt and his colleague, Shaun Riney, represented the seller. The team also procured the buyer, who was not disclosed.

“The seller was able to exit after executing a disciplined value-add business plan,” Greenblatt said. “The buyer will add to an already impressive portfolio of multifamily within the submarket.”

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