more_sales_and_leases

NEW YORK CITY — Alpha Realty has brokered the sale of a multifamily property located at 306 Fifth Ave. in Brooklyn’s Park Slope neighborhood. The asset, which features 10 residential units and one commercial unit, sold for $8.3 million. Additionally, the six-story, 16,525-square-foot building has a 421(a) tax abatement in effect until 2025. The sellers were the original developers of the building, and the buyer was a private Manhattan-based investor. The transaction achieved a 19.8x rent roll multiple and a cap rate of 4.6 percent. Lev Mavashev of Alpha Realty represented both parties in the deal.

NEW YORK CITY — Ariel Property Advisors has brokered the sale of a multifamily building in Central Harlem and a development site in East Harlem for a combined total of $5.8 million. In the first transaction, a real estate investment firm purchased 227 West 150th St. in Central Harlem for $3.6 million. The five-story, 14,554-square-foot building features 21 residential units. In the second transaction, a developer acquired a development site at 318 East 117th St. in East Harlem for $2.2 million. The property includes a three-story, vacant warehouse and features approximately 7,569 buildable square feet. Victor Sozio, Michael Tortorici, Josh Berkowitz and Marko Agbaba of Ariel Property represented the sellers and procured the buyers in both deals.