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336 State St. Boerum Hill Brooklyn

Boerum Hill Portfolio Sale Sets Pricing Record

Alpha Realty arranged the sale of a three-building package located at 348 Atlantic Ave, 336 State St. and 75 Hoyt St. in Brooklyn’s Boerum Hill neighborhood. The sale price of $11,850,000 equated to $1,161 per square foot, a record for the submarket. 

The team of Lev Mavashev and Daniel Aminov represented both the buyer and the seller. The seller was a fund that was impacted by COVID and was looking to liquidate its holdings in Brooklyn. The buyer was a European investment company that wanted to build up its holdings in New York City.  

“Over the last quarter, we started to see the market rebound with an influx of new buyers entering the market, driving up bids and competition, enabling us to achieve record pricing,” said Mavashev. 

Aminov added, “There is tremendous demand for well-located assets such as these. We were able to source the perfect buyer for this deal.” 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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