Marcus & Millichap (NYSE: MMI) announced the sale of 733 Dekalb Ave., a fully free-market multifamily and retail property in the Bed-Stuy neighborhood of Brooklyn. The asset sold for $2.8 million. The brokerage firm, which specializes in investment sales, financing, research and advisory services, reported that this is the second time in five years its team has sold the property.
The three-story, 4,875-square-foot building sits on a 2,500-square-foot lot and was built in 1931. It includes five residential units—four three-bedroom and one four-bedroom apartment—plus a ground-floor commercial space leased to a long-term furniture and design studio. Daniel Greenblatt, Shaun Riney and Michael Salvatico of Marcus & Millichap's New York City office exclusively marketed the property on behalf of the seller, Aperture Holdings, and procured the buyer, the Miller Family. The property is located near Herbert Von King Park and the Myrtle-Willoughby subway station serving line G.
Greenblatt said the previous buyer captured a strong return for their investors, and the new owner is stepping into real upside on the income side. He added that there continues to be strong demand for free-market mixed-use properties in the Bed-Stuy submarket. This statement is supported by the firm's broader activity: Marcus & Millichap closed 8,818 transactions with a sales volume of $50.8 billion in 2025, and had 1,808 investment sales and financing professionals in more than 80 offices at year end.
The announcement does not disclose the prior sale price, the holding period return, current rental income, or the capitalization rate implied by the $2.8 million sale. It also does not specify whether the commercial lease or residential units are subject to any regulatory constraints beyond the property being described as fully free-market. Those details remain unknown based on the single source.