News:
Brokerage
Posted: June 9, 2026
Marcus & Millichap closes sale of 21-unit apartment building for $3.8 million
Brooklyn, NY Marcus & Millichap negotiated the sale of 665 St. Marks Ave., a 21-unit multifamily property in Crown Heights. The property sold for $3.8 million.
“While the buyer pool for rent-regulated buildings is limited, we continue to find the investors others miss,” said Matt Fotis of Marcus & Millichap in New York City. “We identified an international buyer who saw positive yield and an attractive entry point.”
Fotis exclusively marketed the property on behalf of the seller, a private investor, and procured the buyer, an international partnership.
The five-story elevator building contains 17,790 s/f and was built in 1900. The property includes one- and two-bedroom apartments, consisting of 13 rent-stabilized units and eight free-market units. Several apartments have been renovated with modern finishes.
665 St. Marks Ave. is located between Nostrand and Rogers Aves. in Crown Heights, near Manhattan and within six blocks of the 4, 5, A and C trains.
MORE FROM Brokerage
NYSCAR June 2026 president’s message - by Mercedes Brien
As I write this letter, we are preparing to be at the Annual Conference being held at the Rivers Casino, Schenectady, New York. I look forward to reporting on the conference in my next letter. We have some great courses coming up via Zoom. Please be sure to keep watch on upcoming courses by visiting nyscar.org/resources and tools/professional development.
Quick Hits
Columns and Thought Leadership
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
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,
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman
July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
