
Brooklyn, NY Bestreich Realty Group (BRG) completed the sale of 750 MacDonough St. in the Ocean Hill neighborhood. This six-unit multifamily sold for $1.7 million.
The property was delivered vacant and it was 5,070 s/f selling at $335 per s/f.
BRG agents Derek Bestreich, Steve Reynolds, Tom Reynolds, and Brian Davilia represented both the buyer, MacDonough LLC and seller, 750MacDonough 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,