Friedman-Roth Realty Services
Brooklyn, NY Friedman-Roth Realty Services closed the sale of two apartment buildings, 1900 Newkirk Ave. and 1815 Beverley Rd. Both are elevator buildings, have 50 ft. of frontage, and have a combined total of 66 residential units. The selling price for this transaction was $14.3 million.
George Niblock, a managing partner, represented the seller while the purchaser was procured by Nadeem Haque, a partner.
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,