November 19, 2019
B6 Real Estate Advisors is marketing the BKL9N Portfolio, which includes nine walk-up residential buildings across the Bed-Stuyvesant and Crown Heights neighborhoods of Brooklyn. The seller, a joint venture between Alcion Ventures and Alchemy Ventures, is seeking $50 million for the 113-unit portfolio.
A team of DJ Johnston, William Cheng, Michael Murphy and Ben Rechler is marketing the portfolio. B6 says the portfolio offers $3.4 million in gross income, with $2.77 million derived from free-market units.
“With the recent passing of the rent reform bill, we are seeing heighted demand for free-market assets,” said Johnston. “This portfolio offers a gross income that is 80% free-market, in a neighborhood that we believe will see tremendous rental growth over the next five years, especially considering the shrinking supply of reasonably prices rental units.”
Under the current ownership, 75% of the units have been renovated to top-of-the-market standards, according to B6.
Pictured: 216 Macon St., part of the BKL9N Portfolio.
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