Brooklyn, NY According to Alpha Realty, it has completed the sales of 354 East 54th St. in East Flatbush for $2.2 million, 845 Schenectady Ave. in Flatbush for $2.275 million, 540 Bainbridge St. in Bedford-Stuyvesant for $2.875 million and 278 Albany Ave. in Crown Heights for $2.4 million. Lev Mavashev and Jacob Aronov of Alpha Realty handled the off-market transactions.
The sale of 354 East 54th St., a 16-unit apartment building, achieved $222 per s/f and 11.5 gross rent multiple. 845 Schenectady Ave., another 16-unit building, achieved a 12.5x rent multiple. 540 Bainbridge St., a 3-story building with six free market apartments sold for $514 per s/f and a 5.8% cap rate. 278 Albany Ave., a 4-story art deco corner mixed use building, traded at a 17x rent multiple.
“Every day, I am fielding more and more inquiries from investors about properties in Crown Heights and Flatbush. There is still great potential value out there in Brooklyn, especially in these sections,” said Mavashev.
Sign up is quick, easy, & FREE.
