GFI Realty Services arranges the $4.330-million sale and acquisition financing of 21-unit Brooklyn elevator building

101
665 St Marks Avenue ext
GFI Realty Services announced the sale of 665 St. Marks Avenue, an elevator building comprised of twenty-one units located in Crown Heights of Brooklyn.

GFI Realty Services announced the $4.330-million sale of 665 St. Marks Avenue, an elevator building comprised of twenty-one units located in the Crown Heights section of Brooklyn. GFI Senior Managing Director, Matthew Sparks represented the buyer, a local investor.  Sparks  also arranged the acquisition financing for the asset, along with William Watkins who placed the loan with a local savings bank.

Constructed in 1900, the five-story building totals approximately 17,790 square feet and is composed of six one-bedroom apartments and fifteen two-bedroom apartments.

“The buyer immediately recognized the value of this asset located in proximity to mass transit and numerous neighborhood amenities. The new owners intend to keep the asset for the long term and invest in capital improvements,” said Sparks.

The asset is in proximity to several local attractions including Prospect Park and the Brooklyn Museum. Additionally, it is within walking distance of the Franklin Avenue commercial corridor, home to numerous local shops and restaurants, as well several major subway lines.