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Posted: October 20, 2014
Ustoyev, Edelkopf and Kim of EPIC secure $1.36 million sale of 673 Halsey Street
EPIC Commercial Realty, formerly Itzhaki Properties, arranged the sale of 673 Halsey St. The vacant brick building, currently a three-story walk-up with four box-style apartments, came with approved plans to convert to a six-family home. The property's plans call for the one one-bedroom apartment, two two-bedroom apartments and three three-bedroom apartments. 673 Halsey St. is found in the eastern section of Bedford-Stuyvesant, near the Bushwick border. Located between Ralph and Patchen Aves., the property is around the corner from the Excellence Boys Charter School and Saratoga Park as well as being within walking distance of the Gates Ave J, Z train station. The building is subject to reduced real estate taxes, currently receiving a basic school tax relief (STAR). "This sale is a great example of what is happening all over Bed-Stuy. There is a vibrant and rising rental market in this neighborhood. With the demand being so high, many townhouses and smaller multifamily homes are being broken up into 6-, 8- or 12-unit apartment buildings," said Edelkopf, CEO of EPIC. EPIC represented both sides of the sale of 673 Halsey St. Yuriy Ustoyev represented the seller while Yona Edelkopf and Chris Kim represented the buyer of this $1.36 million deal.
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