Marcus & Millichap arranged the sale of 275 Linden Blvd., a 101-unit residential building in Brooklyn’s, Prospect-Lefferts Gardens neighborhood, for $10.8 million. The transaction marks the first time the property has changed hands in more than 60 years.
Shaun Riney and Daniel Greenblatt, investment specialists in Marcus & Millichap’s Manhattan office, marketed the property and represented the seller. Seth Glasser, also with Marcus & Millichap, procured the buyer.
“The buyer is a private family office out of California with a long-term investment horizon and a history of making contrarian bets in real estate sectors that may be out of favor in the moment but represent a very attractive basis play,” said Riney and Greenblatt. “The seller divested after more than 60 years of meticulous stewardship.”
Built in 1930, the six-story, 135,714-square-foot property spans three wings and includes three elevators. It sits on a 38,570-square-foot lot with 150 feet of frontage on Linden Boulevard.
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