Brooklyn, NY Venture Capital Properties brokered the sale of 279-281 Evergreen Ave. in the Bushwick neighborhood for $1.325 million.
This multifamily was delivered with two of the six units vacant in excellent condition. The remaining four tenants are currently under rent stabilization.
Jacob Stavsky, Kevin Darouvar and Roy Oskar of Venture Capital Properties represented the buyer, Rosilio family, and seller, Gonzalo Gaibor.
The buyer plans to lease up the two vacant units, projected to yield an immediate 6% cap. The Rosilio family values the upside this building has to offer and intends to hold it long term.