
Brooklyn, NY Investment Property Realty Group (IPRG) has negotiated the closing of 1125, 1127, 1129, 1132, 1133 Greene Ave. for $6.825 million. These five adjacent multifamily buildings consist of 10 apartments and has 10,970 s/f.
Derek Bestreich, Luke Sproviero, Steve Reynolds, Tom Reynolds, and Brian Davila facilitated both the buy and sell side of this 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,