Mixed-Use Building Sale Breaks Record in Dyker Heights
By Danielle Schlanger March 13, 2015 1:30 pm
reprints
A corner, mixed-use multifamily and retail property at 910 81st Street in Dyker Heights has sold for $8.9 million, Commercial Observer has learned. According to GFI Realty Services, a which represented the seller in the transaction, the sale was a neighborhood record, with a price of $182,000 per residential unit.
GFI Realty Investment Sales Associate Ben Katz represented the seller, a local family investor.
“There is simply no product in Dyker Heights, let alone a corner Mixed-use building. The market is drier than the Sahara!” said Mr. Katz. “It’s about who you know and we knew those investors. We ultimately set a per-unit record for the area.”
GFI Realty Senior Director of Investment Sales Erik Yankelovich represented the buyer, a local investor. Mr. Yankelovich declined to elaborate further on the identity of the buyer.
“It’s a much sought-after product,” Mr. Yankelovich told CO. “A lot of buyers are seeking this type of investment.”
The four-story walk-up building includes 43 residential units and two retail spaces.
