
Brooklyn, NY Investment Property Realty Group (IPRG) has completed the closing of 536 A Monroe Ave. This property is located between Lewis Ave. and Marcus Garvey Blvd. in Bed-Stuy. This property offers four apartments, which were delivered vacant. The building is 19.5 ft. x 40 ft., offering 3,120 s/f. The lot is built 19.5 ft. x 100 ft.
536 A Monroe Ave. was sold by Sarah Polight to Joseph Aghelian. IPRG brokers Derek Bestreich, Steve Reynolds, Tom Reynolds, Brian Davila and Noah Middlekauff 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,