Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 545 85th Street, a 44-unit apartment property located in Brooklyn. The asset sold for $6,715,000.
“Bay Ridge continues to attract investment from buyers long on the area and affordable housing,” said Shaun Riney.
Shaun Riney, Seth Glasser, and Mark Zarrella in Marcus & Millichap’s New York City office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. The buyer, an individual/personal trust, was secured and represented by Riney, Zarrella, and Glasser.
The property is located in Brooklyn blocks from Bayview’s vibrant dining, shopping and entertainment options. The apartments are situated immediately off Interstate 278 and close to the R line’s stop on 86th St.
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2022, the company had 1,904 investment sales and financing professionals in 81 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion. For additional information, please visit www.MarcusMillichap.com.