Bestreich Realty Group
Brooklyn, NY Bestreich Realty Group (BRG) has completed the sale of 331 Keap St. in the Williamsburg neighborhood for $15.5 million.
This 36-unit multifamily unit is 21,740 s/f priced at $713 per s/f. The sellers were Terrence Lowenberg and Todd Cohen and the buyer was Soonbin Kim from West 8th Street Associates. The brokers who facilitated this transaction was Derek Bestreich, Luke Sproviero, Donal Flaherty, and Hakeem Lecky.
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,