CityBizList | March 30, 2017
GFI Realty Services, LLC today announced that it has been named the exclusive sales agent for 196 Russell Street, a three-unit multifamily building located in the Greenpoint section of Brooklyn. The property was constructed in 1910 and totals 3,135 square feet. GFI Realty Associates Sasha Berg and Solomon Rozental will oversee the marketing of the property, with pricing targeted at $2.075 million.
Currently vacant, the asset presents opportunistic investors with an ideal opportunity to rehabilitate the apartments and lease them out at market rates.
“With the right redevelopment plan, a strategic buyer will be able to yield a very significant return on this investment,” said Berg. “The specific configuration of the property also allows sunlight to come in from the rear and light up the property, which adds additional value to the building.”
The property is situated just off of Nassau Avenue, a busy commercial thoroughfare occupied by numerous trendy restaurants, quaint cafes and boutique shops. The G train is located just a short walk away, allowing for an easy commute to Manhattan.
Added Rozental: “Due to its prime location, the property caters to a mix of potential tenants, including families who want to live on a peaceful residential block and young professionals looking for easy access to Manhattan.”
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