NEW YORK—A local investor has picked up 563 Amboy Street, a four-story walk-up apartment building in the East Flatbush section of Brooklyn, for $1.35 million. GFI Realty Services Inc.’s Shlomo Antebi, director, represented the seller, RTC Realty Inc., while Associate Broker Joseph Landau represented the buyer.
The purchase price represents 7.50 times the rent roll.
The property, which was constructed in the 1930s, includes 12 units and totals 12,800 sq. ft. It is in close proximity to Brookdale University Hospital and Medical Center, as well as Linden Boulevard.
"The building is very well maintained and most of the apartments have been renovated which drew a tremendous amount of interest from perspective buyers,” said Shlomo Antebi. “We were able to close the deal in just under 60 days.”