The New York City multifamily market saw a total of 268 transactions with a combined value of $2.11 billion in the first quarter, a year-over-year decline of 35% and 39%, respectively, according to Ariel Property Advisors’ Q1 2023 Multifamily Quarter in Review.
First Sale of Long Term 30+ Year-Owned Asset | Developed and 100% Gut-Renovated By Current Ownership: 131-135 West 138th Street
First sale by developer of a well-maintained professionally-managed, stable and consistent cash flowing mixed-use asset; Exceptional upside in 13 below-market units with preferential rents.
Corner Development Site with 91,969 Buildable SF within an Opportunity Zone: 2251 Nostrand Avenue
2251 Nostrand Avenue is a mixed-use development opportunity with significant scale between the Central Brooklyn neighborhoods of Flatbush and Midwood, within a designated Opportunity Zone.