GFI Realty Brokers $7.2M Sale of Multifamily Building in Brooklyn October 02, 2019

RE Business Online | October 1, 2019

by Alex Patton in Acquisitions, Multifamily, New York, Northeast

NEW YORK CITY — GFI Realty Services LLC has brokered the $7.2 million sale of 8678 Bay Parkway, a 30-unit multifamily building in the Bath Beach neighborhood of Brooklyn. Originally constructed in 1915, the 30,960-square-foot property offers one-, two-, three- and four-bedroom units. Shlomo Antebi of GFI Realty represented the buyer, the Ragosta family. Erik Yankelovich, also with GFI Realty, represented the seller, Meridian Properties.

View article here

back to recent Realty News posts

GFI Realty Services, Inc. (“GFI”) has been provided with certain information by the owners (“Owners”) of the properties listed on this website (the “Properties”), in connection with the sale of the Properties. If you click “Accept” below, you may be provided access to certain confidential information (“Confidential Information”) regarding the Properties. Owners have given GFI permission to make such Confidential Information available to you, upon your acceptance of the terms contained herein.

The Confidential Information is intended solely for your own limited use in considering whether to pursue negotiations with Owners regarding any of the properties. The Confidential Information contains brief, selected information pertaining to the Properties, and Owners and GFI do not make any representation or warranty, expressed or implied, as to the accuracy or completeness of the Confidential Information and no legal liability is assumed or to be implied with respect thereto. No agreement binding upon the undersigned or Owners or any of their respective associated or affiliated companies regarding the Properties, shall be deemed to exist, at law or equity, until the parties enter into a definitive agreement in connection therewith.

By clicking “Accept” below, you hereby certify, warrant, and represent that you are a prospective purchaser or a duly enlisted agent of a prospective purchaser. You also agree, in the event you or a prospective purchaser which you represent purchase or otherwise acquire any of the Properties, you or such prospective purchaser will pay GFI a commission in the amount of three (3%) percent of the gross purchase price paid in connection therewith.

By clicking “Accept” below, you agree that the Confidential Information provided is confidential, that you will hold and treat it in the strictest of confidence, and that you will not disclose or permit anyone else to disclose the Confidential Information to any persons, firm or entity other than your employees, counsel, advisors and partners without prior written authorization of GFI. Notwithstanding the foregoing, you may disclose the Confidential Information in a manner consistent with your obligations under this agreement without being liable therefor. If any court or governmental authority requires you to disclose any portion of the Confidential Information, you shall, to the extent permitted by law and legal process, (a) provide GFI with written notice of such requirement and (b) cooperate with GFI in a commercially reasonable manner in obtaining any protective order or other remedy sought by GFI with respect to such requirement. If no such protective order or other remedy is obtained, then you may disclose only that portion of the Confidential Information that in the opinion of your legal counsel is required to be disclosed, and shall exercise all commercially reasonable efforts to obtain reliable assurance that confidential treatment will be accorded the Confidential Information. You further agree not to discuss the proposed transaction with any tenant, lender, servicer, special servicer, investor, partner or ground lessor of, or agent for, any of the Properties without prior written consent of GFI.

Money damages may not be a sufficient remedy for the breach of any of the terms contained herein, and GFI is entitled to seek specific performance and injunctive relief or other available equitable relief as a remedy for any such breach.