


Brooklyn NY According to Rodriguez Commercial Realty, (RCR) the firm completed the sale of 1607 Cortelyou Rd., located between E 16th St. and E 17th St. in the Ditmas Park neighborhood.
The sale price was $1.38 million. Erik Rodriguez of RCR was the broker. Shu Law sold the property to Fei Chen.
The mixed-use property consists of two residential units and retail space, totaling 2,678 s/f. The building is built 17.25 ft x 51.75 ft and sits on a 17.25 ft x 62.75 ft lot zoned R6A, C2-4.
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,