Bestreich Realty Group
Brooklyn, NY Bestreich Realty Group (BRG) has completed the sale of 294 Rogers Ave. in Crown Heights for $1.222 million.
This three-unit mixed-use property features two residential units and one store across 2,970 s/f. The pricing metrics are $412 per s/f and $407,500 per unit. The seller was Dorothy Hutchinson and the buyer was 294 Rogers LLC.
Derek Bestreich, Steve Reynolds, Tom Reynolds, Brian Davila, and Brian Underkofler facilitated both sides of the transaction.
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,