Lev Mavashev of Alpha Realty successfully closed three contiguous multifamily investment properties in Brooklyn for $11.3M
1193, 1199, and 1205 Eastern Parkway, Crown Heights, Brooklyn
A New York investor who primarily owns and operates multifamily buildings has bought these three contiguous four-story 1912 walk-ups, which together have 49 rent-stabilized apartments — one one-bedroom, 20 two-bedrooms, 28 three-bedrooms. The yellow brick buildings with limestone bases and front yards offer a total of 53,905 square feet and 147 feet of frontage. They sold for 15 times the rent roll, with a cap rate of 4.2 percent.