Achieving top sales price for encumbered warehouse for an out of country trustee member of an estate
969-975 Grand Street is located in the North Brooklyn industrial business zone of East Williamsburg. In February of 2016, the estate hired The Nowak Group at Marcus & Millichap to sell this property with a number of objectives in mind. The ownership wanted to maximize their proceeds and ensure that the trustee of the estate — a native of Italy — met requirements to apply for the EB5 Visa program and close on the sale of the property. In addition, the ownership had a preexisting offer from the long term tenant at $2,500,000 with 80% seller financing.
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