Manhattan, NY Bestreich Realty Group (BRG) completed sale of 13-15 Christopher St. in the West Village for $11.3 million, translating to $1,365 per s/f, or $1.027 million per unit. The 11-unit mixed-use property has seven apartments and four stores, totaling 8,280 s/f.
Zachary Ziskin, Ethan Frank, Adam Lobel, and Justin Zeitchik of BRG facilitated both sides, representing the seller, Six Avenue Chelsea Inc., and the buyers, 13-15 Christopher Street, LLC.
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,