GFI Realty Services retained to sell 1138 Eastern Parkway June 4, 2020

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 StreetZach 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.”

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