450 Atlantic Avenue

In the winter of 2008, we were hired exclusively to market a mixed-use property at 450 Atlantic Avenue, in the Boerum Hill section of Brooklyn, NY. It was composed of 6 apartment units and 1 retail unit. The seller was retiring and no longer wanted to manage the property, they were fortunate to have chosen a time in the market where values had peaked. We were able to generate 22 competitive offers in writing. Ultimately, we procured a buyer in a 1031 Exchange, who paid $100,000 over the asking price and closed in 60 days while still obtaining a mortgage from a bank.