The Journey of a Successful 1056 Rogers Avenue Transaction with Matthews™

Matthews™ is excited to share the success story of the recent closing at 1056 Rogers Avenue in Flatbush, Brooklyn. This notable property, featuring four fully occupied apartments over four stores, was successfully sold for $1,700,000 and amounted to an impressive $326 per square foot. The property offers substantial upside in both residential and commercial rental income. The residential component consists of four two-bedroom apartments, each commanding an average rent of $1,590. In comparison, the typical two-bedroom rent in this Flatbush, Brooklyn neighborhood ranges from $2,500 to $2,800 per month, indicating a potential rental growth of 37%. The strategic sale of this property showcased Matthews’ commitment to a tailored approach for every transaction, emphasizing that there is no one-size-fits-all method in our brokerage services.

Client’s Unique Concerns and Our Tailored Approach

The client, who had owned the property for 13 years, expressed concerns about mass marketing, overwhelming buyer inquiries, and potential disturbances to existing tenants during property tours. Their preference was for a more discreet, “quiet” marketing approach. Recognizing the unique needs of the client and property, Matthews™ embarked on a customized strategy, deviating from the traditional third-party platforms and widespread email campaigns.

Precision Targeted Marketing Process

Rather than listing the property on platforms like LoopNet and CREXI and deploying extensive email campaigns, we adopted a scaled-down yet precision-targeted marketing process. Leveraging our localized knowledge of the active mixed-use buyer market in Brooklyn and incorporating an AI-backed CRM outreach approach, we identified and contacted the ideal buyer swiftly. Our approach facilitated property tours within a week, aligning with our commitment to efficiency and client satisfaction.

Results and Investor Interest

The property, a corner mixed-use building priced under $2,000,000, resonated strongly with investors and end-users in Central Brooklyn. Our targeted marketing efforts yielded a remarkable response, generating multiple offers with attractive pricing and terms. After carefully evaluating the offers, we accepted a compelling $1,700,000 offer from an active Brooklyn investor.

Negotiation and Closing Process

The negotiation process was conducted with a keen focus on securing favorable terms to ensure a smooth closing. Due diligence was seamlessly integrated into the contract negotiation period, leading to a closing in less than 45 days after the execution of the contract.

Learn More About Our Services

We invite you to reach out to Matthews™ to learn more about the intricacies of this deal, particularly the nuances of securing a premium buyer through a “quiet” targeted marketing approach. Our commitment to understanding the unique needs of each client and property sets us apart, ensuring successful transactions tailored to the specific requirements of our valued clients.