Friedman-Roth Realty Services
Bronx, NY Friedman-Roth Realty Services has completed two sales totaling $11.6 million:
• An apartment building at 2541 Aqueduct Ave. West: Located between West 190th St. and West 192nd St., the six-story walk-up contains 37 residential units and totals 27,250 s/f. The building was constructed in 1924 and this is the first sale of the building in over 20 years. The purchase price was $6.314 million. Ben Koval represented the seller while the purchaser was procured by Gil Avni.
• A Brooklyn apartment building at 5201 Snyder Ave.: Located in the East Flatbush neighborhood, the 80 ft. wide property contains 32 residential units and totals 28,160 s/f. The purchase was $5.3 million. Heshy Kraus represented the seller while the purchaser was procured by Avni.
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,