Connect Commercial Real Estate | February 9, 2018
A local investor paid $3.3 million for 1322 Cortelyou Rd., a four-story property in the Ditmas Park neighborhood of Brooklyn. The 8,253-square-foot building includes six rent-stabilized apartments and two ground-floor retail spaces with a total of 2,000 square feet of space.
“The seller spent a considerable amount of time and resources upgrading the retail and unlocking its value. With these renovations in place and the property’s strong corner location, the seller recently signed a major medical tenant to a long-term lease,” said Erik Yankelovich of GFI Realty Services, who represented the seller, another local investor. Ohad Babo of GFI represented the buyer.
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