Private Investors Stake Claim on Three Brooklyn Apartment Buildings

NEW YORK—A private investor has purchased three apartment buildings in Bushwick for $3.3 million.

Shaun Riney, an investment specialist in Marcus & Millichap Real Estate Investment Service’s Brooklyn office, Matthew Fotis, Peter Von Der Ahe and Scott Edelstein, investment specialists in Marcus & Millichap’s Manhattan office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer was secured and represented by Fotis and Riney.

The properties are located at 1182-1186 Putnam Avenue and 564 Evergreen Avenue and include two 12-unit and one six-unit apartment building, all located in Brooklyn.

The $3.3 million sales prices represented approximately $126.92 per sq. ft.

"This sale is a prime example of multifamily assets being the darling of the current investment sales market," said Fotis.

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