Brooklyn, NY A Cushman & Wakefield Capital Markets team including Daniel O’Brien, Adam Spies, Josh King, Marcella Fasulo, and Caroline Hodes has arranged the $41.5 million sale of 975 Nostrand Ave.

Cushman & Wakefield represented the seller, Midwood Investment & Development, in the transaction. The Hudson Companies acquired the property.
The 59,633 s/f site is a block through site bound by Nostrand Ave. and Clove Rd., benefiting from 240 ft. of frontage on Nostrand Ave. and 250 ft. on Clove Rd., in a flexible R7-1/C2-3 zone.
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,