NEW YORK—A private investor has claimed 711 5th Avenue, a 1,800-sq.-ft., mixed-use building located in Brooklyn for $470,000.
Dolly Amigon, an investment specialist in Marcus & Millichap’s Brooklyn office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, also a private investor, was also secured and represented by Amigon.
Built in 1931, 711 5th Avenue is comprised of two stories and is located in the Greenwood neighborhood. The purchase price of $470,000 represents approximately $261.11 per sq. ft.
“By saturating the market with exposure and target marketing the property to a client base…we were able to generate several all-cash bids for the property. This was key since the property did not qualify for much financing,” said Amigon.