
Brooklyn, NY Investment Property Realty Group (IPRG) would like to announce the closing of 260 President St. for $6.1 million. This property is located between Clinton & Court St. The building is built 20 ft x 68 ft, offering approximately 4,360 s/f. The lot is built 20 ft x 100 ft. This property offers 5 apartments.
IPRG Brokers Derek Bestreich, Luke Sproviero, Adam Lobel, and Toby Waring represented both the seller and the buyer.
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,