NEW YORK—A local private investor has paid $1.725 million to purchase 452 Atlantic Avenue, an eight-unit apartment building in Brooklyn. The sales price represents approximately $313.64 per sq. ft.
Matthew Rosenzweig, an investment specialist in Marcus & Millichap’s Brooklyn office, had the exclusive listing to market the property on behalf of the seller, a local private investor. The buyer was also secured and represented by Rosenzweig.
“The inherent value of this property, coupled with the powerful marketing platform that Marcus & Millichap has established across Brooklyn, made this transaction a big success for the seller. By harnessing the efforts of more than twenty brokers who worked on this deal, competition for this asset became strong and the sales price was driven upward,” said Rosenzweig.
More than 30 offers came in for the approximately 5,500-sq.-ft. property.