Windsor Terrace Property Sells in ‘Relatively Short Time Period’

March 27, 2012 Brooklyn Eagle Staff

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Compiled by Linda Collins

Brooklyn Daily Eagle

WINDSOR TERRACE — CPEX reports the sale of a mixed-use building that is directly across from Prospect Park in Windsor Terrace.

The 2,400-square-foot, three-story property, at 154 Prospect Park Southwest, sold to an investor for $883,000, according to Scott Burk, Esq., who represented the sellers in the sale along with Andre Sigourney of the CPEX Mixed-Use Team.

Comprised of one commercial unit at street level and two one-bedroom apartments above, the building was delivered vacant.

“The new owner plans to renovate both residential units as well as the commercial unit and lease them to new tenants,” said Burk.

The property is located in a primarily residential neighborhood of Brooklyn, Burk added.

“The neighbors are excited for a new commercial tenant to soon occupy the vacant space,” he said. “There is abundant demand for a variety of commercial uses to service the area because there simply are not a lot of spaces that permit commercial uses.”

Burk also noted that the CPEX team achieved a purchase price that was $33,000 above the asking price and the sale was achieved “in a relatively short time period.”