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Alchemy Acquires Bed-Stuy Multifamily Portfolio
Alchemy Ventures has purchased a nine-building multifamily portfolio in Brooklyn’s Bedford-Stuyvesant neighborhood for $24.6 million from IWC General Partners. A B6 Real Estate Advisors team of DJ Johnston (pictured), William Cheng and Bryan Kirk arranged the sale.
Included in the 81-unit portfolio were 879 DeKalb Ave., 419 and 421 Marcus Garvey Blvd., 654 Putnam Ave., 39 Malcolm X Blvd., 829 Halsey St. and 804, 808 and 814 Macon St. The portfolio originally went into contract when the team was with Cushman & Wakefield.
“A portfolio sale like this presents a great opportunity to purchase a sizable investment in a consolidated area, while keeping property tax exposure low,” said Johnston. “Negotiating a nine-building portfolio takes time, over six months in this case, and entails a significant amount of due diligence review. Without full transparency and a willingness to work with investors, these transactions are unlikely to succeed in today’s ever-changing multifamily market.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition

