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Marcus & Millichap Sells Brooklyn Mixed-Use Building

BROOKLYN—Marcus & Millichap Real Estate Investment Services has completed the sale of 1077 Brighton Beach Avenue, a 3,510 -sq.-ft. mixed-use building located in Brooklyn.

Matthew Fotis, an investment specialist in Marcus & Millichap’s Manhattan office, and Evmorfea Barbatsis, 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, a private investor, was also secured and represented by Fotis and Barbatsis.

The asset commanded a sales price of $1.275 million, which represented a price per sq. ft. of $363.25 and a capitalization rate of 4.8 percent.

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