Alpha Realty secured the exclusive listing of three mixed-use buildings at 420, 426, and 428 7th Avenue in Park Slope, Brooklyn. Priced at $16,200,000, the fully renovated, 100% free-market portfolio spans 14,792 square feet and carries Tax Class 2A, 2B designations providing long-term tax stability.
-- Alpha Realty, led by Principal Lev Mavashev, announces the exclusive listing of a three-building mixed-use portfolio at 420, 426, and 428 7th Avenue in the heart of Park Slope, Brooklyn.
Situated along one of Brooklyn's most sought-after retail corridors between 13th and 14th Streets, the portfolio consists of three walk-up buildings totaling approximately 14,792 square feet. The offering includes 13 residential units and 3 commercial spaces, all 100% free-market.
The properties have undergone comprehensive gut renovations over the past four years, delivering turn-key product in a high-demand neighborhood known for its strong residential and retail fundamentals. The apartments feature efficient layouts, and select buildings offer tenant-paid utilities via split systems, enhancing operational efficiency.
In today's evolving political and economic landscape, this offering presents a particularly compelling investment narrative. With growing discussion around increased property taxation in New York City, investors are increasingly prioritizing assets with protected tax statuses. This portfolio benefits from Tax Class 2A and 2B designations, providing stable and predictable real estate tax increases, an attractive hedge against potential volatility in the city's tax environment.
"Investors are becoming more strategic in today's climate, and assets with protected tax classes are seeing a noticeable surge in demand," said Lev Mavashev, Principal of Alpha Realty. "This Park Slope portfolio not only offers strong in-place cash flow and quality renovations, but also long-term tax stability in one of Brooklyn's most resilient neighborhoods."
The portfolio carries an asking price of $16,200,000, approximately $1,095 per square foot. The asset generates a projected net operating income of $964,429, representing a 6.0% cap rate and a 14.5x gross rent multiplier.
Located just moments from Prospect Park, the Prospect Park Zoo, and the 7th Avenue subway station, the properties benefit from excellent accessibility and proximity to an array of shopping, dining, and entertainment options.
This offering presents a rare opportunity to acquire a scaled mixed-use portfolio in prime Park Slope with strong fundamentals, modern infrastructure, and favorable tax positioning.
For more information, contact Alpha Realty Investment Sales.
About the company: Alpha Realty is a New York-based commercial real estate brokerage specializing in multifamily investment sales across Brooklyn, Manhattan, and surrounding markets. The firm advises owners, investors, and developers on acquisitions, dispositions, and capital strategy.
Contact Info:
Name: Lev Mavashev
Email: Send Email
Organization: Alpha Realty - Investment-Sales | NYC Multifamily
Address: 164 20th St Suite 3D, Brooklyn, NY 11232
Phone: (212) 658-0955
Website: https://www.alpharealtyny.com/
Release ID: 89189340
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