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GFI Takes Brooklyn– and Then Some

New York Other

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.