News:
Brokerage
Posted: April 19, 2016
Mavashev and Aronov of Alpha Realty handle $9.75 million in off-market deals
Lev Mavashev, Alpha Realty
Jacob Aronov, Alpha Realty
Brooklyn, NY According to Alpha Realty, it has completed the sales of 354 East 54th St. in East Flatbush for $2.2 million, 845 Schenectady Ave. in Flatbush for $2.275 million, 540 Bainbridge St. in Bedford-Stuyvesant for $2.875 million and 278 Albany Ave. in Crown Heights for $2.4 million. Lev Mavashev and Jacob Aronov of Alpha Realty handled the off-market transactions.
The sale of 354 East 54th St., a 16-unit apartment building, achieved $222 per s/f and 11.5 gross rent multiple. 845 Schenectady Ave., another 16-unit building, achieved a 12.5x rent multiple. 540 Bainbridge St., a 3-story building with six free market apartments sold for $514 per s/f and a 5.8% cap rate. 278 Albany Ave., a 4-story art deco corner mixed use building, traded at a 17x rent multiple.
“Every day, I am fielding more and more inquiries from investors about properties in Crown Heights and Flatbush. There is still great potential value out there in Brooklyn, especially in these sections,” said Mavashev.
845 Schenectady Avenue - Brooklyn, NY
540 Bainbridge Street - Brooklyn, NY
Tags:
Brokerage
MORE FROM Brokerage
SoHo emerges as America’s most active trophy retail market as investors prioritize quality, Adirondack Capital Partners finds
Manhattan, NY Investors are increasingly concentrating capital in the country’s most coveted retail corridors, with SoHo emerging as the nation’s most active trophy retail market,
Quick Hits
Columns and Thought Leadership
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.
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
