Dyker Heights Mixed-Use Sale Breaks Neighborhood Record
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GFI Realty Services set a neighborhood record for Dyker Heights, Brooklyn, with its sale of a mixed-use building, which includes 43 rental units and retail.
GFI president Michael Weiser says the $183k per unit price is “a wake-up call” for what can happen in farther-flung parts of the borough. He points out that a 78-unit building in the neighborhood went for about $120k per unit about two years ago. GFI investment sales associate Ben Katz repped the seller, and GFI senior director of investment sales Erik Yankelovich repped the buyer.
Dyker Heights hasn’t seen a lot of multifamily trades, but Michael expects more as the neighborhood finds its way onto the radar of investors. “I’m not sure if...investors buying and renovating are bringing new tenants or if they’re following the tenants,” he adds. An infusion of new jobs is coming to Southwest Brooklyn, and with them more demand for housing, so this record may not be safe.