CPEX Real Estate Sells Mixed-Use Building in Downtown Brooklyn

This five-story, gut-renovated 8,320 sf walk-up building was purchased by a local 1031 investor for $2.7 million. It consists of 14 units over a retail space. The ground floor is occupied by a well known retail tenant, Bridge Cleaners, a dry cleaning and tailoring business. The property sold for $325/sf at a 7.96% CAP & 9.36x GRM. Stephen Safina & Michael Annunziata represented the seller.