City Biz List | September 28, 2016
GFI Realty Services, LLC today announced the $4-million sale of 370 East 23rd Street, a four-story, pre-war, walk-up apartment building in the Flatbush section of Brooklyn. Located between Clarendon Road and Avenue D, the property is comprised of 20 units and totals 23,200 square feet. This is the first time this asset has traded in 20 years.
Daniel Shragaei, an associate director of GFI Realty, represented both the buyer, Jason Wisotsky of Four Corners Development Group, and the seller, a local investor, in this transaction.
“Flatbush is high on the list of the next hot spots in Brooklyn, so this was a strong strategic buy for Four Corners Development Group” said Shragaei. “Investors and prospective tenants alike are now looking at this area, and the demand for its inventory, particularly pre-war assets such as those on East 23rd Street, is increasing. The sellers recognized the current climate and decided to market this property after holding onto to it for two decades.”
Located just off of Flatbush Avenue, a major commercial thoroughfare that runs through the borough, the property is within blocks of the newly renovated Kings Theatre and just minutes away from Brooklyn College. The 2 & 5 subway lines are within walking distance of the property, allowing easy access to Manhattan.
About GFI Realty Services, LLC
GFI Realty Services, LLC imparts strategic and comprehensive solutions to maximize the value of real estate assets. Offering a wide array of brokerage services including investment sales, commercial real estate financing and retail leasing, GFI Realty Services, LLC utilizes its affiliate companies’ fully-integrated platform to provide owners, buyers, landlords and tenants nationwide with the market knowledge and due diligence required to consummate multifaceted transactions.
The company’s extensive knowledge of the commercial real estate industry, advanced analytical capabilities and incomparable client services position its executives as masters at executing off market and complex deals that require the most innovative solutions. For more information, visit GFIRealty.com.
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