In a city where rent-stabilized buildings dominate the landscape, finding a sizable free-market multifamily asset is rare. Finding three? That’s almost unheard of.
Alpha Realty is proud to present a trio of prime opportunities across Brooklyn and Queens, fully free-market, cash-flowing and positioned in some of New York City’s most desirable neighborhoods. Totaling $57.5 million in asking price, the properties combine luxury design with strong in-place income and long-term upside.
Led by Principal Lev Mavashev, Alpha Realty has been exclusively retained to market each of the following assets:
1079 Fulton Street – Clinton Hill, Brooklyn
Offered at $19.25 million | 28,540 SF | 30 units + 4 commercial
Originally a women’s shelter, this seven-story elevator building was acquired and completely repositioned by Urban View. Now known as Fulton Residences, the property features 30 luxury apartments and four retail units with a 6.75% cap rate. Amenities include a roof deck, lounge, virtual doorman, and EV-compatible parking. This building recently launched to market and has already garnered strong investor attention.
23-33 Astoria Boulevard – Astoria, Queens
Offered at $17 million | 25,841 SF | 29 units + 1 commercial
A newly constructed luxury rental building with premium finishes, co-working space, and a rooftop lounge—this Astoria asset is 100% free-market and efficiently operated. The offering delivers a 6% cap rate in one of Queens’ most vibrant rental corridors.
265 South 2nd Street – Williamsburg, Brooklyn
Offered at $22 million | 24,108 SF | 35 units
This six-story walk-up underwent a full gut renovation in 2016, transforming it into a high-performing asset with condo-level interiors, a rooftop deck, and virtual doorman. It currently yields a 5.8% cap rate, with room for increased rents through improved management and lease turnover.
A Rare Opportunity for Private and Institutional Investors
“In a market constrained by rent stabilization and regulatory layers, finding sizable fully free-market buildings is tough in the NYC market,” said Lev Mavashev, Principal of Alpha Realty. “These assets are needle-in-a-haystack deals.”
Each of these listings represents more than just stabilized income—they offer long-term rent growth potential in neighborhoods where demand continues to rise and high-quality inventory remains scarce.
Each of these listings offers a rare chance to secure high-quality, fully free-market assets in New York’s most competitive submarkets. Explore the listings above, and reach out to our team for details, showings, or offering memoranda.