
Brooklyn, NY Erik Rodriguez of Rodriguez Commercial Realty (RCR) was the sole broker in the $994,999 sale of 448 E 46th St. located between Church and Snyder Aves., in the East Flatbush neighborhood. The subject property consists of four units, totaling 3,120 s/f. The building is built 20 ft. x 78 ft. and sits on a 25 ft. x 100 ft. lot zoned R5.
David and Leatha Michael sold the property to Turan Llewellyn.
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,