Press Releases
Marcus & Millichap Arranges Sale of Brooklyn Heights Multifamily Building
October 30, 2026
NEW YORK, Oct. 30, 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 87 Joralemon St., a multifamily property in Brooklyn Heights. The asset sold for $3.69 million.
“Apartment buildings rarely come to market in Brookyln Heights, so we had significant interest throughout the marketing process,” said John Brennan of Marcus & Millichap’s New York City office. "We went with a buyer who understood the long-term value in the location, regardless of the building’s current income. This section of Brooklyn Heights has seen condos sell for more than $2,500-per-square-foot.”
Brennan exclusively marketed the property on behalf of the seller, 87 Joralemon LLC, and procured the buyer, GS 87J LLC.
The five-story brownstone totals 4,926 square feet and was built in 1910. It includes 10 units, nine of which are free-market. The unit mix consists of one studio and nine one-bedroom apartments. The property has potential for single-family or condo redevelopment in the future.
The building is located between Garden Place and Hicks Street, a few blocks from the Borough Hall subway station servicing the 2, 3, 4 and 5 train lines.
“Apartment buildings rarely come to market in Brookyln Heights, so we had significant interest throughout the marketing process,” said John Brennan of Marcus & Millichap’s New York City office. "We went with a buyer who understood the long-term value in the location, regardless of the building’s current income. This section of Brooklyn Heights has seen condos sell for more than $2,500-per-square-foot.”
Brennan exclusively marketed the property on behalf of the seller, 87 Joralemon LLC, and procured the buyer, GS 87J LLC.
The five-story brownstone totals 4,926 square feet and was built in 1910. It includes 10 units, nine of which are free-market. The unit mix consists of one studio and nine one-bedroom apartments. The property has potential for single-family or condo redevelopment in the future.
The building is located between Garden Place and Hicks Street, a few blocks from the Borough Hall subway station servicing the 2, 3, 4 and 5 train lines.
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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.
