Mixed-Use Property in Flatbush, Brooklyn Sells for $1.21M
Matthew Yazdan of Repop Advisors purchases a 3,000 SF mixed-use property in Flatbush, Brooklyn from Nori Shihabi for $1.21M.
In a recent transaction, Matthew Yazdan of Repop Advisors has acquired a mixed-use property located at 1119 Flatbush Ave. in Flatbush, Brooklyn from Nori Shihabi for 1.21M. The property spans 3,000 SF and has a price per square foot of 403. The property is located in a prime location in Flatbush, which is a rapidly developing neighborhood in Brooklyn. The property is situated near several major transportation hubs, including the Flatbush Avenue-Brooklyn College subway station, which provides access to the 2 and 5 subway lines.
The property is a mixed-use building that features both residential and commercial space. The ground floor of the property is currently leased to a retail tenant, while the upper floors contain residential units. The property is in good condition and has been well-maintained by the previous owner.
Matthew Yazdan is a seasoned real estate investor and has a strong track record of successful transactions in the New York City market. Repop Advisors, the firm he represents, is a boutique real estate investment firm that specializes in acquiring and managing commercial and residential properties in the New York City area.
Nori Shihabi, the seller of the property, is a local real estate investor who has been active in the Brooklyn market for several years. Shihabi has a portfolio of properties in the area and has been successful in identifying and acquiring properties with strong potential for appreciation.
The transaction was brokered by a team from Marcus & Millichap, a leading commercial real estate brokerage firm. The team was led by John Krueger and included Michael Lombardi and David Lloyd. Marcus & Millichap has a strong presence in the New York City market and has completed numerous successful transactions in the area.
Overall, the sale of this mixed-use property in Flatbush, Brooklyn is a testament to the strength of the New York City real estate market and the continued demand for well-located properties in the area. With its prime location and strong potential for appreciation, this property is a valuable addition to Matthew Yazdan’s portfolio and is likely to generate strong returns for his firm in the years to come.