GFI REALTY SERVICES New Midwood building asking $42M February 12, 2020

Real Estate Weekly | February 12, 2020

GFI Realty Services, LLC has been named the exclusive sales agent for 1704-1712 Ocean Avenue, a (seven)-story multifamily building comprised of 64 units and a 21-car parking garage, in the Midwood section of Brooklyn. GFI Realty Managing Director Matthew Sparks will oversee the marketing of the property, with pricing targeted at $42 million.

Completed in 2019, the newly constructed building totals 59,840 s/f. The apartments are configured as one studio, 40 one-bedroom units and 23 two-bedroom units. The units are completed with high-end modern finishes and stainless-steel appliances. Select units offer private outdoor space; either a balcony or terrace. Ideally located in a prime area of Brooklyn the property benefits from proximity to public transit, several parks and a variety of restaurants and stores.

The property has an abatement for fifteen years providing strong protection against large tax increases.

This multifamily asset is a short walk away from the B and Q subway lines.

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