Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of 167 N 9th Street, a 14-unit, 17,934-square-foot mixed-use building in Brooklyn, New York, for $6,250,000.
“This sale follows several other IMD loft buildings we’ve closed in the immediate area,” said Shaun Riney. “With expert knowledge of the Loft Board process and legalization regulations, our team stands out as the dominant choice for these types of NYC buildings. 167 N. 9th Street offered an exceptional blend of location and character, making it a standout opportunity in North Williamsburg.”
Riney and Michael Salvatico, investment specialists in Marcus & Millichap’s Manhattan office, exclusively marketed the property on behalf of the seller and procured the buyer, local private investors.
167 N 9th Street comprises 10 residential and four commercial units across three stories, with an additional 5,026 square feet of basement space. Located three blocks from the Williamsburg waterfront and McCarren Park, it is steps from premier retail, dining and nightlife including Lazer Wolf, Nami Nori, Lilia and others. Current retail tenants include a local mart, record shop and pet supply stores.
Marcus & Millichap, Inc. (NYSE: MMI) is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2023, the Company had 1,783 investment sales and financing professionals in over 80 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 our clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion.
