Brooklyn, NY Bestreich Realty Group (BRG) handled the closing of 236 Kingsland Ave. in the Greenpoint neighborhood.
The property traded for $2.375 million. This six-unit multifamily is located between Nassau and Driggs Aves. It is 4,875 s/f offering a lot dimension of 25 ft. x 100 ft. and zoned R6B. This property was delivered vacant. Derek Bestreich, Luke Sproviero, Donal Flaherty, Hakeem Lecky, and Corey Haynes of BRG facilitated both sides of the transaction. The seller was Estate of Cecilia Markowski and the buyer is 236 Kingsland 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,