283 Albany Ave. sells for $8.8 million

The building is 100% occupied, and will still be rentals.

Silvershore Purchases Crown Heights Building for $8.8M - Commercial Observer

Silvershore Properties has picked up a 58,000-square-foot apartment building in the Crown Heights section of Brooklyn for $8.8 million, Commercial Observer has learned. The property, at 283 Albany Avenue, is a 53-unit elevator building that was built in 1941 and owned by the same family, Hoydu Realty Corp., for almost 40 years. Silvershore's Jason Silverstein and David Shorenstein…

It should be interesting to see how long it remains rent stabilized.

If they wanted to, my bet is they could get it to be 80% market by Jan 2016.

How would they do that?

The regular methods: Buy outs, capital improvements, evictions for lease violations and late payment of rent....