market activity report - north central brooklyn market activity report north central brooklyn...

2016 Year End

Market Activity Report - North Central BrooklynBedford-Stuyvesant, Bushwick, Crown Heights, Prospect Lefferts Gardens

2016 MARKET ACTIVITY REPORT

NORTH CENTRAL BROOKLYN OUTPACES THE REST OF THE BOROUGH, DESPITE A SLUGGISH 4TH QUARTERAccording to Cushman & Wakefield Research, Brooklyn YE16 concluded with a total of 1,702 transactions and an aggregate value of $8.2 billion, a 2.4% decrease from 2015. The annual statistics below will highlight activity during 2016, specifically in the North Central Brooklyn submarket, which is comprised of the Bedford-Stuyvesant, Bushwick, Crown Heights, and Prospect Lefferts Gardens neighborhoods.

North Central Brooklyn closed on another seemingly strong year with a total dollar volume of $1.3B and a transaction volume of 390, both within 5% of the record highs, set in 2015. It is worth noting however that the 4th quarter saw a significant decline in both metrics, down 40% in transaction volume and 53% in dollar volume, compared to the first 3 quarters of the year. We are tracking 1Q17 closely to see if the market rebounds or remains consistent with this new pace. As a whole, The North Central Brooklyn submarket in 2016 accounted for 15% of the total dollar volume and 27% of total transaction volume across all of Brooklyn.

North Central Brooklyn 2015 2016 Change 3Q16 4Q16 Change

Transactions 390 363 -6.92% 99 59 -40.40%

Dollar Volume $1,293,335,690 $1,269,270,000 -1.86% $346,447,999 $161,559,500 -53.37%

2009 2010 2011 2012 2013 2014 2015 2016

$1.1M $1.2M $1.6M $1.4M $1.6M $2.7M $3.3M $3.5M

Average $ / Transaction

Source: Cushman & Wakefield Research

Dollar Volume & Number of Transactions

140

120

100

80

60

40

20

$0

1Q0

9

2Q0

9

3Q0

9

4Q

09

1Q10

2Q10

3Q10

4Q

10

1Q11

2Q11

3Q11

4Q

11

1Q12

2Q12

3Q12

4Q

12

1Q13

2Q13

3Q13

4Q

13

1Q14

2Q14

3Q14

4Q

14

1Q15

2Q15

3Q15

4Q

15

1Q16

2Q16

3Q16

4Q

16

$450M

$400M

$350M

$300M

$250M

$200M

$150M

$100M

$50M

$0

Dollar Volume

Number of Transaction

Trans % Change 2016 Trans % Change

69 -16.87% Development $239,563,945 -20.87%

148 -5.13% Walk-Up $430,946,287 24.27%

112 12.00% Mixed-Use $194,924,303 6.07%

8 -27.27% Elevator $293,400,000 33.20%

26 -35.00% Other $110,329,590 -53.98%

363 -6.92% $1,269,164,125 -1.87%

Transactions Dollar Volume


19%

41%

31%

2%

7%19%

34%15%

9%

23%

2016 MARKET ACTIVITY REPORT

NOTABLE TRENDSDevelopment: Development activity is down 20% in both dollar volume and transaction volume. This is due to a number of factors but most notably the lack of tax abatements. The average price per BSF has increased however from $175 per BSF to $213 per BSF, suggesting that while we are seeing fewer transactions, those transitions are trading at higher sales prices on average. This is likely due to spill over from 2015 and developers transition to more prime pockets while they wait for news on tax abatements.

Walk-Up Multifamily: This product is the majority asset class in North Central Brooklyn. Tracking this activity is important to gage the general health of our submarket. 2016 saw fewer buildings sell in comparison to 2015, but the average price per transaction went up by 25% from $2.2M to $2.9M, a significant increase. This is due to more renovated properties being sold, a result of owners selling properties they recently renovated as opposed to re-financing. A trend we expect to continue.

Mixed-Use: Mixed-use was the only asset class to see an increase in both transaction and dollar volume. This is due to a shift in investor strategy from rent regulated multifamily to free market investing. Retail presents unrestricted upside, so while the pop in value is similar to investing in rent stabilized assets, the speculation on turnover is avoided. We believe this type of investing will draw a variety of new businesses and retailers, increasing the quality of life for residents.

BEDFORD STUYVESANT:• Transaction Volume is 126, 17% compared to 2015• Dollar Volume is $457,769,099, 14% compared to 2015• Price per SF is $379, 17% compared to 2015

BUSHWICK:• Transaction Volume is 134, 1% compared to 2015• Dollar Volume is $377,024,620, 16% compared to 2015• Price per SF is $345, 13% compared to 2015

CROWN HEIGHTS / PROSPECT LEFFERTS GARDEN:• Transaction Volume is 103, 2% compared to 2015• Dollar Volume is $434,370,406, 2% compared to 2015• Price per SF is $347, 17% compared to 2015

MethodologyThe Cap Rates, Gross Rent Multipliers, Average Price per Square Foot and Total Volume presented in this report pertain to closed sales, including partial sales, researched or sold by Cushman & Wakefield through 12/15/16. The “fourth quarter” herein covers the period of 9/16/16 through 12/15/16. These transactions occurred at a minimum sales price of $500,000 and were located in Brooklyn. These sales may be found in the public record and were reported by ACRIS, CoStar, RCA and other sources deemed reliable. This information has been compiled for informational purposes only and Cushman & Wakefield shall not be liable for any reliance thereon.

• We use the following City of New York classifications:• 1-4 Family properties: A, B, CO and C3• 5+ Family Walk-Up properties: C1, C2, C4, C5, C7, C8 and C9 (excluding C6, which represents Co-Ops)• 5+ Family Elevator properties: D1, D2, D3, D5, D6, D7, D8 and D9 (excluding D0, D4, which represent Co-Ops)• Mixed-Use properties: K and S classes• Retail properties / retail condominiums: L1, L8, L9, K, O, R5, R7 and R8• Office properties and commercial condos: O, R5, R7 and R8• Hotel properties: H classes• Development properties: VO, V1, V2 and other properties that were purchased for development• Specialty-Use properties: properties that, because of their intended uses (such as religious, medical, government, educational, non-profit uses), do not fall into any of the above

property classes

Each sale was analyzed and categorized on a case-by-case basis.

2016 Average Price/SF – Mixed-Use and Multi-Family

$0

$50

$100

$150

$200

$250

$300

$350

Mixed-Use Walk-Up

Bedford-Stuyvesant Bushwick Crown Heights

$369$393

$324

$401

$308$339

2016 Average Price per Unit – Mixed-Use and Multi-Family

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

Mixed-Use Walk-Up

Bedford-Stuyvesant Bushwick Crown Heights

$353,573$379,783

$333,806$301,105

$236,959$246,016


2016 Average Price per BSF – Development Sites

$204

$206

$208

$210

$212

$214

Bedford-Stuyvesant

Bushwick

Crown Heights

$216

$209

$214

Development Sites



$400

$450

$400,000

$216

$218

BEDFORD STUYVESANT COMPARABLE SALES

1104 Bedford Avenue

180 Franklin Avenue

756 Myrtle Avenue

102 Sandford Street

The Mann Portfolio

788-790 Madison Street

DevelopmentAddress Quarter Price Zoning Lot Area FAR BSF $/BSF

1 570-572 Nostrand Ave 1Q16 $4,342,500 C4-5D 4,550 4.20 19,110 $227

2 374 Kosciuszko St, 193 Marcus Garvey Blvd 2Q16 $5,125,000 R6A/R6B/C2-4 12,500 3.32 41,500 $123

3 1618-1622 Fulton St 2Q16 $5,310,600 R7D 4,800 4.20 20,160 $263

4 1104 Bedford Ave 2Q16 $4,800,000 R7A/C2-4 5,622 4.00 22,486 $213

5 1247-1249 Atlantic Ave 3Q16 $9,000,000 C4-5D 6,642 4.20 27,894 $323

Industrial

Address Quarter Price Gross SF $/SF

8 102 Sandford St 1Q16 $11,900,000 29,125 $409

9 1325-1339 Atlantic Ave 1Q16 $7,800,000 47,888 $163

10 1077-1081 Atlantic Avenue 1Q16 $4,650,000 16,857 $276

Mixed-Use

Address Quarter Price Gross SF $/SF Total Units $/Unit

11 684 Myrtle Ave 1Q16 $3,950,000 11,200 $353 14 $282,143

12 1190 Bedford Ave 1Q16 $3,500,000 5,383 $650 7 $500,000

13 862-866 DeKalb Ave 4Q16 $7,500,000 15,600 $481 14 $535,714

14 1063-1065 Bedford Ave 4Q16 $3,500,000 11,520 $304 16 $218,750

Walk-Up


17 724, 728 Dekalb Ave 1Q16 $7,600,000 32,407 $235 34 $223,529

18 558 Lafayette Ave 1Q16 $4,815,000 9,055 $532 8 $601,875

19 385 Vernon Ave 1Q16 $5,900,000 14,615 $404 16 $368,750

20 442-446 Decatur St 2Q16 $8,000,000 29,103 $275 32 $250,000

21 3, 5 MacDonough St, 293 Stuyvesant Ave 2Q16 $12,350,000 29,872 $413 24 $514,583

22 162 Pulaski St 2Q16 $4,250,000 7,851 $541 6 $708,333

23 The Mann Portfolio 3Q16 $14,400,000 33,334 $432 46 $313,043

24 788-790 Madison Street 3Q16 $4,600,000 12,128 $379 16 $287,500

25 526-528 Lafayette Ave 3Q16 $5,600,000 17,800 $315 20 $280,000

26 186, 194 Herkimer St, 643 Madison St 3Q16 $12,800,000 23,561 $543 29 $441,379

RetailAddress Quarter Price Gross SF $/SF

15 800-808 Broadway 1Q16 $5,200,000 9,825 $529

16 1542 Fulton St 2Q16 $2,310,000 5,800 $398

Elevator


6 180 Franklin Ave 2Q16 $66,500,000 108,835 $611 118 $563,559

7 756 Myrtle Ave 3Q16 $52,400,000 107,000 $490 72 $727,778

Specialty-Use – Conversion


27 358 Kosciuszko St 1Q16 $3,900,000 9,960 $392

28 967-969 Bedford Ave 1Q16 $4,700,000 9,900 $475

BUSHWICK COMPARABLE SALES

28 Stanwix Street

942 Flushing Avenue

845 Broadway

1417-1427 Myrtle Avenue

1441 Bushwick Avenue


1 395-412 Evergreen Ave 1Q16 $13,500,000 R6 36,427 2.2 80,139 $168

2 709-719 Hart St 1Q16 $4,300,000 R6 7,500 2.2 16,500 $261

3 28 Stanwix St 2Q16 $72,200,000 R6A 88,633 3.0 265,899 $272

4 132 Wyckoff Ave 3Q16 $4,300,000 R6 6,922 2.2 15,229 $282

5 282 Moffat St 3Q16 $5,125,000 M1-1 29,995 1.0 29,995 $171

Mixed-Use


6 238 Wyckoff Ave 1Q16 $2,000,000 4,125 $485 5 $400,000

7 942 Flushing Ave 1Q16 $4,000,000 7,390 $541 8 $500,000

8 2 Stanwix St 1Q16 $2,000,000 4,329 $462 6 $333,333

9 50 Starr St 1Q16 $2,100,000 4,125 $509 4 $525,000

10 175 Knickerbocker Ave 2Q16 $2,125,000 4,500 $472 6 $354,167

11 94 Wilson Ave, 199 Troutman St 2Q16 $2,000,000 4,240 $472 4 $500,000

12 12 Wilson Ave 2Q16 $2,025,000 4,125 $491 6 $337,500

13 117 Wilson Ave 2Q16 $2,500,000 4,125 $606 4 $625,000

14 1223 Broadway 3Q16 $2,200,000 7,150 $308 8 $275,000

15 1549 Dekalb Ave 3Q16 $2,300,000 6,834 $337 7 $328,571

16 1287 Madison St 3Q16 $2,020,000 5,275 $383 5 -

17 214 Knickerbocker Ave 3Q16 $2,100,000 4,500 $467 6 $350,000

Walk-Up


20 699 Bushwick Ave 1Q16 $2,800,000 7,344 $381 13 $215,385

21 212 Wyckoff Ave 1Q16 $2,200,000 4,875 $451 6 $366,667

22 97 Cornelia St 1Q16 $2,600,000 4,500 $578 6 $433,333

23 1429 Bushwick Ave 1Q16 $2,500,000 4,725 $529 6 $416,667

24 1441 Bushwick Ave 2Q16 $2,600,000 4,800 $542 6 $433,333

25 132, 134 Jefferson St 2Q16 $6,050,000 9,125 $663 13 $465,385

26 221, 223 Wilson Ave, 381 Palmetto St 2Q16 $4,200,000 17,022 $247 20 $210,000

27 1500 Bushwick Ave 2Q16 $4,250,000 10,950 $388 12 $354,167

28 920-926, 946 Bushwick Ave, 1073-7075 Greene Ave 3Q16 $27,500,000 93,314 $295 105 $261,905

29 255-261, 263-265 Linden St 3Q16 $9,250,000 26,235 $353 28 $330,357

30 967, 969 Willougby Ave 4Q16 $3,075,000 12,400 $248 16 $192,188

31 475, 477 Wilson Ave 4Q16 $4,300,000 14,000 $307 16 $268,750

Specialty-Use – Conversion


32 173 Jefferson St 1Q16 $1,350,000 3,200 $422

33 199 Starr St, 348-350 Troutman St 1Q16 $10,500,000 21,037 $499


18 845 Broadway 1Q16 $11,500,000 29,000 $397

19 1417-1427 Myrtle Ave 3Q16 $7,950,000 6,800 $1,169

199 Starr Street

CROWN HEIGHTS / PLG COMPARABLE SALES

906 Prospect Place

15-25 Crown Street

1378-1384 Bedford Avenue

341 Eastern Parkway

1059 Union Street


1 711 Franklin Ave 1Q16 $12,000,000 R7A/C2-4 10,250 4.0 41,000 $293

2 906 Prospect Pl 2Q16 $7,463,514 R6 10,023 2.2 22,051 $338

3 1627-1631 Pacific St 2Q16 $3,037,000 R6 1,700 2.2 3,740 $812

4 141 Utica Ave 4Q16 $1,900,000 R6/C1-3 5,180 2.2 11,396 $167

5 195 Sullivan Pl 4Q16 $2,870,000 R6 5,904 2.2 12,988 $221

Mixed-Use


12 169 Buffalo Ave 1Q16 $3,430,000 18,350 $187 26 $131,923

13 1059 Union St 2Q16 $17,850,000 42,285 $422 37 $482,432

14 75 Clarkson Ave 2Q16 $3,000,000 5,444 $551 5 $600,000

15 243 Troy Ave 3Q16 $3,775,000 10,108 $373 17 $222,059

16 1997 Pacific Street 4Q16 $2,100,000 8,060 $261 9 $233,333

Walk-Up


18 1236 Union St, 623 Halsey St 1Q16 $5,660,000 24,900 $227 24 $235,833

19 991, 993 President St 1Q16 $17,000,000 46,112 $369 63 $269,841

20 798 St Johns Pl 1Q16 $3,500,000 8,676 $403 8 $437,500

21 851 Franklin Ave 1Q16 $5,500,000 8,440 $652 16 $343,750

22 42 Hawthorne St 1Q16 $3,500,000 13,000 $269 8 $437,500

23 1322-1326 Prospect Pl 1Q16 $2,500,000 10,920 $229 15 $166,667

24 1263 Pacific St 2Q16 $2,400,000 4,180 $574 6 $400,000

25 341 Lincoln Rd 2Q16 $2,925,000 9,600 $305 16 $182,813

26 213 Clarkson Ave 2Q16 $3,850,000 13,600 $283 16 $240,625

27 Carmel Partners Portfolio 2Q16 $40,000,000 160,000 $250 203 $197,044

28 1338 Sterling Pl, 1297 St Marks Ave 2Q16 $4,400,000 10,506 $419 16 $275,000

29 1656 St Johns Pl 2Q16 $3,300,000 12,571 $263 18 $183,333

30 1358--1366 St Johns Pl 3Q16 $3,800,000 22,800 $167 30 $126,667

31 1043-1047 Sterling Pl 3Q16 $3,280,000 15,820 $207 16 $205,000

32 1477 Pacific St 3Q16 $2,840,000 9,880 $287 8 $355,000

33 1308, 1314 Eastern Pkwy 4Q16 $5,000,000 17,208 $291 18 $277,778


17 1009 Nostrand Avenue 1Q16 $2,400,000 3,540 $678

Elevator


6 15-25 Crown St 1Q16 $20,750,000 51,000 $407 58 $357,759

7 770 St Marks Ave 2Q16 $19,100,000 70,097 $272 52 $367,308

8 1378-1384 Bedford Ave 2Q16 $25,150,000 38,400 $655 40 $628,750

9 Crown Heights Elevator Portfolio 3Q16 $36,000,000 144,247 $250 160 $225,000

10 90-94 Sullivan Pl 3Q16 $21,500,000 46,900 $458 29 $741,379

11 341 Eastern Pkwy 4Q16 $52,000,000 84,860 $613 66 $787,879

Carmel Partners Portfolio

THE JOHNSTON TEAM’S ACTIVITY MAP

OUR RECENT SALES404 Nostrand Ave.211 Taaffe Pl.216 Macon St.319 Malcolm X Blvd.654 Putnam Ave.804 Macon St.814 Macon St.419 Marcus Garvey Blvd.421 Marcus Garvey Blvd.940 Kent Ave.433 Jefferson Ave.886 Jefferson Ave.355 Tompkins Ave.653 Marcy Ave.359 Lewis Ave.101-107 Stockton St.276 Throop Ave.160 Pulaski St.579 Greene Ave.437 Jefferson Ave.299 Throop Ave.868 DeKalb Ave.688 Halsey St.1008 Gates Ave.307 Lewis Ave.527 Marcy Ave.1116 Bedford Ave.118 Ralph Ave.192-194 Malcolm X Blvd.302 Throop Ave.43 Claver Pl.184-98 Nostrand Ave.448 Lafayette Ave.

138 St. Nicholas Ave.303 Harman St.599 Bushwick Ave.211 Knickerbocker Ave.611 Wilson Ave.228 Wilson Ave.307 Knickerbocker Ave.274 Jefferson St.782-86 Hart St.245 Suydam St.1002 Bushwick Ave.428 Troutman St.780 Hart St.413 Troutman St.383 Troutman St.1223 Broadway1564 Prospect Pl.350 Empire Blvd.441 Brooklyn Ave.305 E. 34th St.505 St. Marks Ave.418 Utica Ave.1000 Dean St.363 Prospect Pl.153 Bleecker St.358 Grove St.105 Ralph Ave.1471 Fulton St.1450 Fulton St.426 Bleecker St.1259 St. John’s Pl.626A Monroe St.415 Jefferson Ave.271 Lenox Rd.684-86 Willoughby Ave.

357 Flatbush Ave.113 Kenilworth Pl.109 Winthrop St.16-20 Halsey St.255 Troy Ave.533 Albany Ave.181 Lincoln Rd.11 Herkimer Pl.157 Empire Blvd.220-226 Vernon Ave.599 Willoughby Ave.147 George St.36 Starr St.75 Ralph Ave.709 Empire Blvd.Huron Pier795 Franklin Ave.583 Franklin Ave.298 Suydam St.834 Lexington Ave.378 Nostrand Ave.1550 Bedford Ave.502 Montgomery St.831 Lincoln Pl.1417-1427 Myrtle Ave.1525 Bedford Ave.317 Putnam Ave.1875 Atlantic Ave.525 Broadway1217 Bedford Ave.1260 Broadway1172 Jefferson Ave.402-412 Church Ave.462 Madison St.792 Eastern Pkwy

353 20th St.Duke Properties BK Portfolio181 Troutman St.303 Stockholm St.122 33rd St.471 West 144th St.58 Wyckoff Ave.785 Hart St.233 Buffalo Ave.622 Myrtle Ave.1190 Bedford Ave.199 Malcolm X Blvd.102 Sandford St.1075 Willoughby Ave.614 Eastern Pkwy.276-278 Nostrand Ave.1441 Bushwick Ave.1587 Broadway682 Chauncey St. 906 Prospect Pl.257 Quincy St.570 Jefferson Ave.308 Stuyvesant Ave.788 Madison St.790 Madison St.1587-1591 Broadway1907-1909 Atlantic Ave.702 Nostrand Ave.675 Knickerbocker Ave.995 President St.916 Bergen St.786 Park Pl.210 Wyckoff Ave.975 Washington Ave.1187 Dean St.

296-300 St. Nicholas Ave.563-571 Ocean Ave.

ACTIVE LISTINGS349 Nostrand Ave.1504 Jefferson Ave.389 Weirfield St.391 Weirfield St.1438 Hancock St.376 Weirfield St.378 Weirfield St.229 West 136th St.814 Sterling Pl.854-856 Flushing Ave.735 East 182nd St.50 East Sandford Blvd.871 Hart St.1399 Myrtle Ave.485-487 Tompkins Ave.163-20 Cross Bay Blvd.373-379 Knickerbocker Ave.35 Vanderbilt Ave.238 Stockholm St.366 Montgomery St.533 Albany Ave.674 Maple St.732 Prospect Pl.1245 Fulton St.1666-1668 Broadway1766 Dean St.1488 DeKalb Ave.293 Grove St.295 Grove St.94 George St.

UNDER CONTRACT38-14 31st Ave. Queens276 Throop Ave.299 Putnam Ave.303 Putnam Ave.927-931 Putnam Ave.267 Clifton Pl.403 Macon St.751 Myrtle Ave.48 Jefferson Ave.1400 Dean St.244 New York Ave.95 Kingston Ave.585 Park Pl.701 St. Marks Ave.874 Bergen St.942 Bergen St.469 Rogers Ave.1524 Prospect Pl.494 7th St.306 Prospect Pl.135 Devoe St.262 North 6th St.147 Grand St.

BUSHWICK

CROWN HEIGHTS

BEDFORDSTUYVESANT

PROSPECTPARK

525 Broadway

SOLD

PROSPECTLEFFERTSGARDENS

1325-1365 Halsey Street

1000 Dean Street

SOLD

975 Washington Avenue

SOLD

385 Vernon Avenue

Available

Available

Eastern Pkwy

Empire Blvd

Clarkson Ave

Atlantic Ave

Lafayette AveDekalb Ave

1525 Bedford Avenue

SOLD

Recent Sales

Active Listings

Under Contract

696 Franklin Avenue

Available

385 Vernon Ave.524 Willoughby Ave.116 Tompkins Ave.17 Pilling St.140 Palmetto St.1264 Myrtle Ave.1325-1365 Halsey St.696 Franklin Ave.539 West 148th St.1106 Bay St.

Dollar Volume: $795,569,754 & Total SF: 3,659,490

Cushman & Wakefield Copyright 2017. NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE TO THE ACCURACY OR COMPLETENESS OF THE INFORMATION CONTAINED HEREIN, AND SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, WITHDRAWAL WITHOUT NOTICE, AND TO ANY SPECIAL LISTING CONDITIONS IMPOSED BY THE PROPERTY OWNER(S). AS APPLICABLE, WE MAKE NO REPRESENTATION AS TO THE CONDITION OF THE PROPERTY (OR PROPERTIES) IN QUESTION.

CUSHMAN & WAKEFIELDOne Pierrepont Plaza, 9th Floor, Suite 9-02Brooklyn, NY 11201nyinvestmentsales.com

For more information or if you would like a Broker Opinion of Value for your property, please contact:

Michael S. AmirkhanianExecutive Managing [email protected] 606 7073

William ChengDirectorwilliam.cheng@cushwake com718 606 7037

DJ [email protected] 307 6515

Bryan KirkAssociatebryan.kirk@cushwake com718 307 6516

Joshua [email protected] 307 6521

THE JOHNSTON TEAM

Specialized Attention – Our Team Focuses Exclusively on the Sale of Commercial Properties• We don’t allow ourselves to get distracted by other real estate services such as management, residential sales or

retail leasing.

• We primarily focus on multifamily, development, retail, and industrial properties.

• Other teams within Cushman & Wakefield focus exclusively on leasing, financing, and other core service lines, should you need assistance.

Owners Come First – We Only Represent Sellers• Our interest are always aligned with the seller and we remain their advocate throughout the sales cycle. While we

have a good reputation with buyers, we care most about providing the best price and terms for our clients.

• We have the ability to negotiate with many buyers without the conflict of interest our competitors face when representing both buyers and sellers.

• We will actively co-broke with buyer brokers in order to cast the widest net. By hiring us, you are essentially hiring every broker with an interest in your property.

Territory ExpertiseTM – For 10 Years Our Sole Responsibility Has Been Your Neighborhood• Each neighborhood is supported by a single Cushman and Wakefield Capital Markets team that focuses

specifically in that territory. Our team has covered the Bedford-Stuyvesant, Bushwick, Crown Heights, and Prospect Lefferts Gardens territory for the last 10 years.

• We are experts in all real estate matters affiliated with our territory (i.e. most active buyers, recent sales, new developments, zoning changes, new retailers).

• Our deep understanding and appreciation for our territory enables us to better justify to buyers why they should pay the best price for your property.

What has made us unique has also made us successful. As NYC’s #1 Building Sales Firm, we have sold more than three times the properties as our nearest competitor.

The Cushman & Wakefield Advantage

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