Powers-Tapp of Klosed Properties handles $1.65 million sale in Brooklyn

688 Washington Avenue - Brooklyn, NY

Brooklyn, NY According to Klosed Properties, the firm has completed the purchase of 688 Washington Ave. A 3-story mixed-use building in the Prospect Heights section. Two of the apartments are being delivered vacant. The retail is currently occupied by Sit & Wonder, a cafe serving coffee, tea, and light pastries. The sales price was $1.65 million.

“The recent shift in the market is scaring away a lot of buyers and creating more opportunities for dynamic and very well capitalized firms such as ours” said Steven Kachanian, principal of Klosed Properties.

“This acquisition shows us all that you can still find good deals at fair prices in the best areas of Brooklyn” said Ryan Powers-Tapp, director of acquisitions, who handled this transaction.

This closing marks the firms’ 8^th acquisition of 2016. They are currently under contract to purchase six additional properties.

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GFP Real Estate signs Knit Illustrated to 4,051 s/f five-year lease at 247 West 37th St.

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