Where we work
We are not a citywide brokerage pretending to know every block. These are the submarkets we actually transact in, and what we think matters in each one.
Brooklyn
Bushwick is the deepest part of our experience. The Wyckoff Avenue and Troutman Street corridor, Irving Avenue, Schaefer Street and Wilson Avenue have produced more closings for us than any other submarket, across both mixed-use buildings with ground-floor retail and straight multifamily walk-ups.
Bushwick is also where the regulatory question gets decided. Buildings here frequently sit at or just above the six-unit line that separates a flexible asset from a regulated one, and that distinction moves price per unit more than any renovation does. We underwrite the stabilization status before a building goes to market, because the buyer's lender will.
Brooklyn
Williamsburg trades on a different logic than Bushwick. Pricing is set less by the capitalization rate and more by what the units would rent for unencumbered, which means the regulatory status of the rent roll carries even more weight here than it does a mile east.
Six-unit walk-ups on the South Side and in the streets off Withers remain the most liquid product. Above that size the buyer pool narrows quickly, and the financing conversation changes with it.
Brooklyn
Smaller, tighter, and far less forgiving on condition. Buyers here are frequently end users or owner-occupants purchasing a multifamily to live in one unit, and they underwrite a building the way a homeowner does rather than the way an investor does.
The brownstone stock rewards accurate square footage and honest disclosure about what is legal versus what is simply there. A certificate of occupancy that does not match the current layout is the single most common reason a deal here re-trades.
Brooklyn
Bed-Stuy covers an enormous range, and the half mile between one corridor and the next can mean a materially different buyer pool. Smaller two and three family houses move on residential logic and residential financing. The larger walk-ups trade as investments, on income.
It matters which one your building actually is. Quoting the wrong set of comparables wastes a marketing cycle and resets the clock on a listing that was priced correctly all along.
Brooklyn
Both have drawn sustained development interest, with the practical constraint being what a site can actually be built to once the zoning and any inclusionary requirement are worked through.
Development sites are priced per buildable foot rather than on income, which is a different conversation with a different buyer. An owner holding a low-density building on a high-density lot is often sitting on more value than the rent roll suggests.
Queens
Ridgewood sits directly across the Brooklyn line from Bushwick and has absorbed much of the same demand, generally at a lower basis. Middle Village and Glendale behind it remain predominantly owner-occupied, which keeps supply thin and transactions relationship-driven.
The industrial and warehouse stock on the Queens side is the part most often mispriced. The value frequently sits in the air rights and the zoning rather than in whatever structure happens to be standing on the lot today.
Manhattan
Our Manhattan work is residential rather than investment sales. Condominium and cooperative resales turn on the building's financials and board posture as much as on the apartment itself.
A buyer who has not read the offering plan and the last two years of minutes carefully is a buyer who has not finished their diligence, and in a co-op that is the difference between an accepted offer and a rejected board package.
Also covered
We take on assignments across the surrounding submarkets as well.