November 13, 2018
GFI Realty Services is marketing 1432 (pictured), 1436 and 1440 Pacific St., a portfolio of three contiguous multifamily properties in Brooklyn’s Crown Heights section. GFI senior director Shlomo Antebi will market the 28-unit portfolio, with pricing targeted at $15 million.
Constructed in 1906, the buildings total approximately 26,300 square feet, and will be delivered with 26 of the 28 units vacant. Most of the apartments need significant renovations, but GFI says that once building upgrades have been made, new ownership will benefit from the area’s rising rents and the properties’ advantageous 2B tax class.
“With Crown Heights establishing itself as one of the borough’s most dynamic neighborhoods, the long-term owner decided to sell the three buildings to a developer who could reinvigorate the properties,” said Antebi. He predicted that the portfolio would experience “a lot of demand from buyers looking to enter Crown Heights at a fairly low basis.”
For comments, questions or concerns, please contact Paul Bubny