-- Alpha Realty is currently marketing a high-value portfolio of multifamily buildings across New York City; each tied to expiring or recently expired 421a tax abatements. The listings may appeal to investors seeking post-abatement opportunities with potential for rent growth and operational flexibility amid evolving regulatory conditions.
Alpha Realty recently completed the sales of three 421a multifamily buildings: 182 Eagle Street in Greenpoint, 97 Grand Avenue in Clinton Hill, and 525 Union Avenue in Williamsburg. These transactions reflect ongoing investor interest in post-abatement assets and highlight movement in Brooklyn’s transitional multifamily market.
“These buildings aren’t just tax-sunset opportunities—they’re real estate fundamentals at work,” said Lev Mavashev, Principal at Alpha Realty. “They’re newer, well-maintained, and excluded from Good Cause Eviction, which is a massive advantage in today’s rental landscape. Plus, most of them won’t require major capex to unlock value.”
Currently Offered: Strategic 421a & Free-Market Multifamily Listings
1710 Newkirk Avenue – Ditmas Park, Brooklyn
Five-story elevator building with 19 residential units and on-site parking. The 421a abatement recently expired, and all leases equipped to transition rents to market.
17,213 SF | Asking Price: $6,000,000 | $349/SF | 8.7% Cap Rate
Queens 3-Building Package – Astoria & Corona
Three protected Class 2A walk-up buildings totaling 18 residential units. The 421a tax abatement is active through 2032. Tenant-paid utilities. First sale by original developer.
13,460 SF | Asking Price: $6,890,000 | $512/SF | 6.1% Cap Rate
Bushwick Portfolio – 75–83 Suydam Street
A newly-built (2019) package totaling 15 units. All leases are free-market and exempt from Good Cause Eviction, with 13 units turning over within 5 months.
15,212 SF | Asking Price: $6,600,000 | $434/SF | 9.2% Projected Cap Rate
1469 Bedford Avenue – Crown Heights, Brooklyn
Mixed-use building with 27 residential units and 2 commercial spaces. The 420c tax abatement is active through 2028. The property generates steady cash flow with additional upside potential through tenant turnover.
29,171 SF | Asking Price: $3,250,000 | $111/SF | 9.0% Cap Rate
With recent experience handling 421a transactions and an active base of investors, Alpha Realty continues to represent both institutional and private clients navigating New York City’s evolving post-abatement multifamily market.
About: Alpha Realty is a New York City–based investment sales brokerage firm specializing in multifamily and mixed-use properties. Founded by Lev Mavashev in 2014, the firm has quickly become one of the most active and respected players in the NYC commercial real estate market. With deep experience across Brooklyn, Manhattan, and the outer boroughs, Alpha Realty combines local market expertise with hands-on deal execution, delivering consistent results across transactions of all sizes.
About Us: Commercial Lending News delivers expert reporting and industry analysis across commercial real estate, lending, banking, finance, and investment sectors. From interest rate trends to major acquisitions and market-shaping technologies, our coverage connects decision-makers to the insights that drive the future of business and investment.
Contact Info:
Name: Ed Winslow
Email: Send Email
Organization: US Commercial Lending News
Address: 135 West 36th Street, New York, NY 10018, United States
Phone: 203-912-7244
Website: https://uscommerciallending.com
Release ID: 89166018
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