EMH Commercial Realty
Brooklyn, NY According to EMH Commercial Realty, the firm has closed the sale of 1421 Hancock St. for $1.25 million. Doron David, investment sales associate represented the buyer and Mike Feinstein, associate broker represented the seller.
The two-family house was delivered vacant with approved plans for a 4,400 s/f six-family that the developer intends to convert to condominiums. This neighborhood has seen great developments given its location and proximity to Williamsburg and Manhattan.
“We see a large demand for infill development sites due to the popularity of the area” said Feinstein.
EMH Commercial Realty is a commercial real estate brokerage focused on investment sales. We specialize in the sale of mid-market investment properties.
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,