Marcus & Millichap recently completed the sale of two mixed-use buildings in Brooklyn, totaling 8,800 square feet. The properties were sold for a total of $5,650,000.
The firm’s Matt Fotis represented the seller and brought in local private investors as buyers. Despite generating significant interest from the market, Fotis noted that these buildings did not meet most buyers’ expectations. However, with their expertise and understanding of market trends and feedback, they were able to position the properties effectively and achieve a sales price within 5% of their asking price.
Originally built in 1920, these well-located buildings are situated at 431-433 Court St., in Brooklyn’s desirable Carroll Gardens neighborhood. They feature six two-bedroom apartments as well as a ground-floor retail space currently occupied by Citizens Bank.
