Brooklyn, NY Akelius US has acquired an 86-unit apartment property. Built in 1930, the subject comprises six buildings and is located in Clinton Hill. The neighborhood consists of restaurants, bars and other close by amenities. The closest subway station is two minutes walk from the property. The price was $57 million. Akelius owns 1,013 apartments in New York.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,