Daily Beat | May 13, 2020
GFI Realty Services has been retained to sell a three-story mixed-use building at 1138 Eastern Parkway in Crown Heights. The newly renovated building spans 3,096 square feet, and features 4,955 square feet of unused air rights.
- Dig Deeper: The property consists of two fully furnished and tenanted apartments, in addition to a ground floor office component.
- Worth Noting: GFI Realty’s Zach Fuchs will oversee the marketing of the property, with pricing targeted at $1.75 million. The Net Operating Income is around $125,000, with a projected cap rate of 7.1%.
- Heard on the Street: Zach Fuchs: “This asset is a great turnkey investment with easy management… The property is situated in a strong location surrounded by landmark homes and major commercial corridors.”