Brooklyn, NY Investment Property Realty Group (IPRG) brokered the closing of 305 Tompkins Ave. This property is located between Tompkins Ave. and Quincy St. in Bedford–Stuyvesant.
This property offers nine apartments.
The building is 25 ft. x 68 ft., offering 6,800 s/f. The lot is 25 ft. x 100 ft.
305 Tompkins Ave. was sold by Zeneida Baez to Shimon Weber.
Investment Property Realty Group brokers Derek Bestreich, Steve Reynolds, Tom Reynolds, Brian Davila and Noah Middlekauff represented 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,