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September 9, 2010

Fort Greene Building Sells for $1.325M
by Brooklyn Eagle (edit@brooklyneagle.net), published online 03-11-2010
 

FORT GREENE — A four-story mixed-use building on one of the busiest stretches of Myrtle Avenue in Fort Greene, recently sold for $1.325 million, Massey Knakal of Brooklyn reports.

The building, at 414 Myrtle Ave., between Clinton and Vanderbilt avenues, sits between Chase Bank and Emigrant Savings Bank branches, according to Stephen Palmese, first vice president of sales for Massey Knakal, who handled the transaction with Matthew Girodano.

The building measures approximately 4,300 square feet and sits on a 20-foot by 94-foot lot. It contains a retail space at street level plus three floor-through rental apartments on the floors above.

The market rent for the three apartments is approximately $2,300 per apartment, according to Palmese.

“The vacant 1,300-square-foot retail space — with its renovated storefront, 24 new steel support beams, exposed brick walls, high ceilings and a newly finished basement — was highly sought after by potential owner/occupants,” Palmese said.

He added, “The entrepreneurial spirit is alive and well in Fort Greene. Despite the many banking obstacles, we were able to sell this property to an end user.”

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© Brooklyn Daily Eagle 2010 All materials posted on BrooklynEagle.com are protected by United States copyright law. Just a reminder, though -- It’s not considered polite to paste the entire story on your blog. Most blogs post a summary or the first paragraph,( 40 words) then post a link to the rest of the story. That helps increase click-throughs for everyone, and minimizes copyright issues. So please keep posting, but not the entire article. arturc at att.net

 



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