Brooklyn, NY Bestreich Realty Group (BRG) has completed the sale 123 St. James Place in Clinton Hill, for $2.5 million. This four apartment multifamily is located between Greene Ave. and Gates Ave.

The property offers 3,440 s/f at $726 per s/f and $625,000 per unit. Daniel Shawah, Derek Bestreich, Luke Sproviero, Adam Lobel, Toby Waring, and Gabriel Kates of BRG facilitated both sides of the transaction representing the seller, Ehbny LLC and the buyer 123 St James LLC.
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,