Brooklyn, NY Investment Property Realty Group (IPRG) announced the closing of 423 Court St. for $5,346,458. This property is located between 2nd Pl. and 3rd Pl. The building is built 20.17 ft x 40 ft, offering approximately 3,200 s/f. The lot is built 20.17 ft x 50 ft. This property offers 3 apartments and 1 store.
IPRG Brokers Derek Bestreich, Luke Sproviero, Adam Lobel, and Toby Waring represented the seller and Ari Harkov of Brown Harris Stevens represented 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,