Brooklyn, NY EPIC Commercial Realty has completed the sale of 353 12th St., a residential building in Park Slope. Located on 12th St., between 6th and 7th Aves., the property is a four-story walk-up residential building comprised of 14 apartments. Built to 6,720 s/f, the property is situated four blocks from the 7th Ave. (F, G) train station.
According to EPIC Commercial Realty associate broker, Mark Akilov, “This property provides a great investment opportunity for residential investors in one of the prime Brooklyn neighborhoods.”
EPIC Commercial Realty sold 353 12th St. for $3.65 million. Akilov, and investment sales associate, Yuriy Ustoyev, represented the seller; associate broker, Seth Peyser, represented the buyer.
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,