Bestreich, Sproviero, Steve and Tom Reynolds of Bestreich complete sale of 12-unit building: $4.25 million

Derek Bestreich, Bestreich Realty Group

Luke Sproviero, Bestreich Realty Group

Steve Reynolds, Bestreich Realty Group

Tom Reynolds, Bestreich Realty Group

Brooklyn, NY Bestreich Realty Group has completed the sale of 1500 Bushwick Ave., a fully stabilized 12-unit building in the borough’s Bushwick neighborhood. The property sold for $4.25 million, which equated to $354,156 per unit. 

Derek Bestreich, Luke Sproviero, Steve Reynolds and Tom Reynolds of Bestreich represented the buyer and seller. 

Steve Reynolds said, “There has been an increased demand for assets in eastern Bushwick. This asset was fully gut renovated with many of the amenities that renters want today. With a J-51 in place, the cash-flow justified the price.”