Eastern Consolidated markets $11.9 million Brooklyn multifamily portfolio

Eastern Consolidated, a leading investment sales brokerage firm, has been retained as the exclusive agent to market for sale a four-building multifamily portfolio in the Cypress Hills section of the East New York neighborhood. The asking price for the fully-occupied properties, totaling 107 rent-regulated units, is $11.9 million. This collection of well-preserved buildings is situated within a five-block radius on 2742, 2772, 2776 Pitkin Ave., and 964 Belmont Ave. The four-story properties each contain 21 to 42 units. The average monthly rent for each large unit is $976.75. "Cypress Hills is a fast-growing area and the portfolio offers investors tremendous upside potential," says Lipa Lieberman, a senior director at Eastern Consolidated who along with Executive Managing Director David Schechtman represents the seller, Git Leb LLC, on an exclusive basis. "In addition to being within walking distance of public transportation hubs, the buildings are also directly across from Public School 159 Isaac Pitkin and near Atlantic Ave. and Conduit Blvd." The portfolio is ideally located near vibrant retail shops, eateries, and community, religious, and health facilities in this multiethnic neighborhood. The properties are directly accessible via the A, C and Pitkin Ave. subway lines and around the corner from the B13 bus stop, which provides direct access to Manhattan.