Mavashev and Raff of Alpha Realty sell Bushwick building for $10.5 million

36-40 Linden Street - Brooklyn, NY

Lev Mavashev, Alpha Realty

Brooklyn, NY Alpha Realty has completed the sale of 36-40 Linden Street in the Bushwick section for $10.5 million. The managing partners of Alpha Realty lead the way in brokering this deal, with Glenn Raff representing the Manhattan-based buyers, and Lev Mavashev representing the seller, a local private investor. The four-story building is comprised of 38 apartments and is located between Bushwick Ave. and Broadway.

Sales of larger Bushwick apartment buildings have been very rare over the past decade with only four transactions of 30 plus units recorded.

Glenn Raff, Alpha Realty

This is the 2^nd time selling this building for Mavashev who sold it to the seller back in 2012.

“Bushwick over the past several years has seen increased real estate values as potential renters who are priced out of nearby Williamsburg and Bedford-Stuyvesant began searching for neighborhoods with close proximity to Manhattan and more modest rents. Landlords of the larger, more desirable properties are hesitant to put their building on the market knowing their scarcity,” said Mavashev. “Glenn and I were able to help resolve all of the outstanding issues to get this deal done.”