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Three-Story Brighton Beach Building Sells for $1.27 Million

BRIGHTON BEACH — Marcus & Millichap Real Estate Investment Services reports the sale of a 3,510-square-foot mixed-use building in Brighton Beach.

The property, at 1077 Brighton Beach Ave., sold for $1.275 million, according to John Horowitz, regional manager of the firm’s Brooklyn office.

Matthew Fotis, an investment specialist in the firm’s Manhattan office, and Evmorfea Barbatsis, an investment specialist in the Brooklyn office, represented the seller, a private investor. The buyer, a private investor, was also secured and represented by the pair.

This property generated 15 competing offers in writing in under 30 days, according to Barbatsis.

“Ultimately the building sold to a local private investor at a price substantially above what the seller was asking,” she said.

Added Fotis, “The seller benefited from this building being fully exposed to the entire market as multiple agents from both Marcus & Millichap and other companies submitted offers and participated in the bidding process,” added Fotis.

April 20, 2012 - 2:30pm


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