GFI Takes Brooklyn– and Then Some
Proof that Brooklyn is the new Manhattan just keeps rolling in. GFI president Michael Weiser reports that Brooklyn investments accounted for 55% of GFI’s deals so far in 2014, highlighted by senior director Yosef Katz’s $39.5M sale of 1125 Banner Ave, a 102-unit luxury apartment building in Sheepshead Bay. Action also grows in the Bronx, where GFI reports a 25% increase. In Jersey City, the team repped both parties in the $31M sale of 35 Journal Square, a 200k SF, 12-story office building steps from the PATH station. Michael attributes this success to an expanding network of buyers and sellers and a torrent of early year activity. He says GFI plans to continue gaining strength in promising, lesser-known markets as eager buyers are nudged out of Manhattan and Brooklyn. For more info on our sponsor, click here.
