Steven Westreich - Commercial Real Estate Showcase

Steven Westreich Property Listings
Westbridge Realty Group
15 W 26th St
9th Floor
New York, NY 10010-1002

Steven Westreich joined Newmark Knight Frank's Connecticut office in 2009. As an associate, Mr. Westreich specializes in tenant and landlord representation... More
Steven Westreich joined Newmark Knight Frank's Connecticut office in 2009. As an associate, Mr. Westreich specializes in tenant and landlord representation in the Westchester and Fairfield markets. He works closely with Managing Principal John Goodkind to deliver a superior level of service to each client.
Mr. Westreich joined Newmark Knight Frank with a strong background in sales and marketing, which provides a firm foundation for success in identifying and pursuing only the most advantageous opportunities for his clients. Some of Mr. Westreich's noteworthy transactions as a tenant representative include the relocation of Hudson Partners Group LLC (1 Landmark Square, Stamford, CT), Brightwork Partners LLC (1 Landmark Square, Stamford, CT), and Americas Pen Collection Inc. (1 North Broadway, White Plains, NY). As an agency representative, Mr. Westreich represents landlords including AREA Property Partners, Ponderosa Property and Equity Residential.
Mr. Westreich brings to Newmark Knight Frank a unique background in investment sales and development. While enrolled as a full-time student at The University of Maryland, Mr. Westreich worked at the Hogan Companies, where he assisted various regional and national builders, developers and retailers with site acquisition. He worked closely with the vice president at the Hogan Companies in evaluating prospective investments and joint venture projects. Mr. Westreich was responsible for the procurement and execution of three investment opportunities for the firm.
Mr. Westreich graduated from The University of Maryland with a Bachelor of Arts degree in history. He also studied abroad in Barcelona, Spain, and is well versed in the Spanish language. Mr. Westreich holds a real estate license in the states of New York and Connecticut. Less 
238 Stockholm Street

Brooklyn, NY 11237-3870 - Bushwick MF Submarket

Property Type:Multi-Family Number of Units:8 Status:Existing Year Built:1931
Stories:- Building Size:7,000 SF Land Area:.06 AC (2,500 SF)
For Sale Price:$4,150,000 Price/Unit:$518,750.00 Cap Rate:5.00 % GRM:-


Sale Notes:
Westbridge Realty Group has been exclusively retained to handle the deposition of 238 Stockholm Street, an 8-unit multifamily building in Prime Bushwick.

Built 25 feet wide by 70 feet deep, the property spans a total of ±7,000 square feet above grade. Additionally, there is more usable square footage as one of the ground floor apartments has been converted into a duplex unit, using space in the cellar.

6 of the 8 apartments have recently undergone full gut-renovations, and all of the units have separate boilers. Each apartment is a three-bedroom apartment with high-end, condo-like finishes.

As 2 of the apartments remain rent-stabilized and are currently renting for approximately 1/3 of the market value, offering significant upside potential.

238 Stockholm Street represents an opportunity to purchase a turn-key asset, at an attractive going-in return, with significant upside in both the below market rents, and long-term appreciation in the neighborhood.

Westbridge Realty Group
Steven Westreich
(212) 658-0793

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