Press Releases
Marcus & Millichap Closes Multifamily Asset Sale in Brooklyn for $23.5 Million
May 27, 2026
BROOKLYN, N.Y, May 27, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 1000 Ocean Parkway, a 122-unit apartment building in the Midwood neighborhood of Brooklyn, New York. The property sold for $23.5 million, or $192,623 per unit.
“We knew this asset stood out in the post-2019 rent-regulated market and the opportunity was articulated that way,” said Matt Fotis of Marcus & Millichap in New York City. “Our wide, thoughtful approach uncovered a buyer new to the market and the sale exceeded all market expectations.” Fotis represented the seller, the Cohen family, and procured the buyer, David Brecher, chief executive of Brooklyn-based FM Home Loans.
The property is located on the corner of Ocean Parkway and Avenue J in the heart of Midwood, a core central Brooklyn neighborhood. Public transportation is nearby at the Avenue J and Avenue M subway stations, and the B9 and B6 bus routes.
Built in 1964 and renovated in 2021, 1000 Ocean Parkway has two elevators, a doorman, laundry facilities, and a parking garage. The mix of classic and modernized apartments have high ceilings and hardwood floors. Select units have a private patio or balcony and city views.
“We knew this asset stood out in the post-2019 rent-regulated market and the opportunity was articulated that way,” said Matt Fotis of Marcus & Millichap in New York City. “Our wide, thoughtful approach uncovered a buyer new to the market and the sale exceeded all market expectations.” Fotis represented the seller, the Cohen family, and procured the buyer, David Brecher, chief executive of Brooklyn-based FM Home Loans.
The property is located on the corner of Ocean Parkway and Avenue J in the heart of Midwood, a core central Brooklyn neighborhood. Public transportation is nearby at the Avenue J and Avenue M subway stations, and the B9 and B6 bus routes.
Built in 1964 and renovated in 2021, 1000 Ocean Parkway has two elevators, a doorman, laundry facilities, and a parking garage. The mix of classic and modernized apartments have high ceilings and hardwood floors. Select units have a private patio or balcony and city views.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
