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Lev Mavashev Sold Two East Flatbush Properties for $7M

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Alpha Realty announced the sales of 5601 Snyder Ave and 545-555 East 82nd Street located in East Flatbush Section of Brooklyn. Both properties sold for combined price of $7,000,000. Up Realty was the seller, while the buyers were two separate private local investors. Lev Mavashev brokered the deal for both the buyers and the seller in this off-market transaction. 5601 Snyder Ave., a 16-unit apartment building consisting of approx 12,800 s/f sold for $3,000,000. 545-555 East 82nd Street, a 26-unit apartment building consisting of approx 21,000 s/f, sold for $4,000,000. Combined, the transaction yielded $207 psf and a 5.6% cap rate.