GFI REALTY SERVICES
Jonas makes Kensington trade
GFI Realty Services announced that it has arranged the $11 million acquisition of 175 Ocean Parkway, a four-story, walk-up apartment in the Kensington section of Brooklyn.
GFI director of investment sales Erik Yankelovich represented both the buyer, Jonas Equities, and the seller, a local investor. The majority of the building’s 39 units are currently occupied.
“This transaction represents the consummation of a 1031 exchange, in which Jonas Equities sold 241-245 Ocean Parkway and acquired 175 Ocean Parkway,” said Yankelovich.
The broker has been working with Jonas Equities over the past several months as the company works to realign its investment strategy.
In addition to finding them a buyer for 241-245 Ocean Parkway, GFI arranged their acquisition of several other investment properties, including 147 Ocean Avenue, 115 Ocean Avenue and 15 Crooke Avenue.