Brooklyn, NY Mordekhai of Forest Park Properties Inc. completed the sale of 303 Troutman St. The property was sold for $1.35 million.
Mordekhai represented both parties in this transaction. The seller was The NYC Tax Lien Trust and the buyer was a private LLC. This is an 8-unit brick building in the Bushwick section of the borough.
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,