APARTMENT BUILDING IN FORT GREENE SELLS FOR $2.2M

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NEW YORK CITY — An apartment building at 40 Cumberland St., located between Flushing and Park avenues in Brooklyn's Fort Greene neighborhood, has sold to an investor through a 1031 tax-deferred exchange for $2.2 million. The 8,268-square-foot building contains nine two-bedroom units and two one-bedroom units. The property also includes a three-bedroom unit with rear yard access. In the past 12 months, 10 of the 12 units have been fully renovated. Stephen Palmese and Mike Amirkhanian of Massey Knakal Realty Services represented both parties in the transaction.

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