
Brooklyn, NY Bestreich Realty Group (BRG) brokered the sale of 258 Eckford St. in the Greenpoint neighborhood, for $1.67 million, equating to $334 per buildable s/f. This 5,000 buildable s/f development site sits on a 25 ft. x 100 ft. lot and zoned R6B.
Corey Haynes, Derek Bestreich, Luke Sproviero, Donal Flaherty, and Hakeem Lecky facilitated both sides of the transaction. The sellers are 258 Eckford LLC and the buyers are Eckford Street LLC.
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,