Brooklyn, NY 665 Degraw St. a multifamily property in Park Slope consisting of three floor-through apartments sold for $2.6 million.
The buyer was Aran Scott and the seller was Mindy Gerbush.
The deal was closed all cash.
Sean Mashihi and Gabriel Kates, both managing directors of Block Real Estate Group, represented both the buyer and seller.
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,