Stark Family Acquires Multifamily Property in New York City for $3.04 Million
Stark Family purchases a 6,075 square foot multifamily property in New York City for $3.04 million from Hirshmark Capital and Igor Vaysberg.
New York City’s real estate market continues to attract investors, with the latest deal involving the sale of a multifamily property to the Stark Family. The property, located at 818 Marcy Avenue, spans 6,075 square feet and was sold for a total price of 3.04 million. The sale price per square foot was 500, reflecting the high demand for properties in the area.
The seller, Hirshmark Capital and Igor Vaysberg, recognized the opportunity to capitalize on the strong market conditions and decided to list the property for sale. The decision proved to be a wise one, as the property garnered significant interest from potential buyers.
The buyer, the Stark Family, saw the potential in the property and seized the opportunity to add it to their real estate portfolio. With 12 units in total, the average price per unit was $253,333, making it an attractive investment.
The transaction was facilitated by brokers Erik Yankelovich, Shlomo Antebi, and Yosef Katz from Atlas Realty Group. Their expertise in the New York City market and their extensive network of clients played a crucial role in connecting the buyer and seller.
The sale took place on June 5, 2023, and represents another significant investment in the thriving New York City real estate market. The city’s strong rental demand and limited supply continue to drive up property prices, making it an attractive market for investors.
The Stark Family’s acquisition of the multifamily property at 818 Marcy Avenue further solidifies their presence in the New York City real estate market. With their previous successful investments in the area, the family is well-positioned to capitalize on the city’s continued growth and demand for housing.
Overall, the sale of this multifamily property highlights the ongoing strength of the New York City real estate market. Despite challenges faced by the industry in recent years, the city remains a hotbed for real estate investment. As demand for housing continues to rise, investors like the Stark Family are eager to secure properties in prime locations, such as 818 Marcy Avenue. With the expertise of brokers like Erik Yankelovich, Shlomo Antebi, and Yosef Katz, these transactions are made possible, connecting buyers and sellers in the competitive New York City market.