Brooklyn, NY Barcel Group completed the sale of three buildings. The properties are: 837 Manhattan Ave., 2405-2409 Nostrand Ave. and 1024 New York Ave. The sale of the three properties totals $7.287 million.
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,