City Biz List | June 30th, 2016
GFI Realty Services, LLC today announced the $1.15-million sale of a four-story, walk-up apartment building in the Flatbush section of Brooklyn. The 1931 constructed building, which totals 6,100 square feet, is located at 2533 Church Avenue, and is comprised of eight apartments.
Isaac Moskowitz, associate of GFI Realty Services, and Yosef Katz, managing director of GFI, represented both the buyer and seller — private local investors — in the transaction.
“Although not as widely discussed, Flatbush is experiencing the same resurgence as the rest of Brooklyn, with an influx of new residents and developments to the area,” said Moskowitz. “Flatbush is a sub-market primed for great growth due to the diversity of its architecture — a mix of pre-war and single-family homes — as well as its ease of accessibility to Manhattan.”
Added Katz: “The buyers recognize the potential growth for this area, and intend to hold onto this asset for the long term and invest in significant capital improvements. Located in close proximity to Prospect Park, 2533 Church Avenue is just blocks from the 2 and 5 subway lines, and just blocks away from Flatbush Avenue, a major commercial corridor in the area.”
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