Marcus & Millichap : Arranges The Sale Of A 23-Unit Apartment Building in Brooklyn, NY

Brooklyn, NY, January 3, 2022 --Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 255 East 25th Street, a 23-unit apartment property located in Brooklyn, NY, according to Susan Bands, regional manager of the firm's Manhattan office. The asset sold for $2,600,000.

Matt Fotis and Zachary Cohen, investment specialists in Marcus & Millichap's Manhattan office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a limited liability company, was secured and represented by Matt Fotis and Zachary Cohen.

Fotis commented, "We continue to see more buyers entering back into the market for fully rent regulated assets in New York. In under thirty days we generated multiple competing offers delivered strong terms and pricing."

255 East 25th Street is located at 255 E 25th St in Brooklyn, NY. The building sits along the major retail corridors of Flatbush and Nostrand Avenues.

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About Marcus & Millichap (NYSE: MMI)

With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry's most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.