369 Ocean Avenue (between Woodruff and Crooke Avenues)
Prospect Park South, Brooklyn
A local investor has bought this 11,036-square-foot, four-story 1931 elevator building with 16 rent-stabilized one-bedroom apartments. The building, two blocks from the Flatbush Avenue shopping area, also offers about 4,500 square feet in air rights, enough to add two more floors. The cap rate is 4.5 percent.
Buyer: M & M 369 Realty L.L.C.
Seller: Goldmont Realty
Broker: Erik Yankelovich, GFI Realty Services