Marcus & Millichap arranged the sale of 179 Ave. U, a multifamily and retail property in the Gravesend neighborhood of southern Brooklyn. The sale price was $1,536,000.
“Marcus & Millichap’s New York Multifamily team sourced an end user for this mixed-use property,” said Daniel Greenblatt of the firm’s New York City office. “We delivered a win on both sides: The seller got a price above what an investor would pay, and the buyer secured office space for their team.”
Greenblatt, Shaun Riney and Michael Salvatico marketed the property on behalf of the seller, G4 Development Group, and procured the buyer, GD Capital.
The three-story, 3,800-square-foot building sits on a 1,600-square-foot lot and was built in 1931. The building includes one free-market three-bedroom residential unit above two ground-floor commercial spaces leased to Dunkin’ and Hwang’s Construction.
The property is located along the Avenue U retail corridor, near the Avenue U subway station.
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