Brooklyn, NY Fried Frank advised Atlas Capital Group on its acquisition of 80 Dekalb Ave., a 36-story, multifamily property in Fort Greene. The property has 365 apartment units, 4,900 s/f of commercial retail space and a 126-parking space garage.
The Fried Frank team was led by partners Jonathan Mechanic and Alexander Sutherland and included associates Sam Grubner, Michael Turo and Joshua Jun.
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,