Patch | Amanda Ferraro
Located at 197 St. Marks Avenue, Three-Story Walk Up Includes Six One-Bedroom Units
NEW YORK (March 21, 2014)— GFI Realty Services, Inc., a leading New York-based commercial real estate services firm, today announced that it has been named exclusive sales agent for 197 St. Marks Avenue in the Prospect Heights section of Brooklyn, N.Y.
The property, a three-story building consisting of six one-bedroom apartments, is currently listed for $2.4 million. The building is situated within close proximity to the recently developed Barclays Center, as well as the Grand Army Plaza, the Brooklyn Museum, the Botanic Gardens and numerous restaurants, bars, cafes and boutiques located near the Vanderbilt Avenue commercial corridor.
GFI Realty Senior Director Shlomo Antebi, who will oversee marketing of the property, noted that the Prospect Heights neighborhood landscape consists of a diverse mix of brownstones constructed in the 1890’s, as well as newly built luxury residential buildings.
“This property offers a great opening for local buyers and investors seeking to break into the thriving Brooklyn market,” said Antebi. “It’s an ideal prospect for first-time buyers, given that the building is so well-located and maintained. Additionally, with the predominance of free-market apartments in the building, it’s a perfect condo conversion opportunity.”
The building is the latest property to reach the market in Brooklyn, where GFI recently reported seeing an uptick in the number of properties trading at lower CAP rates and higher gross rent multiplier (GRM) rates.