MyBK Investments

Overview

MyBK Investments is a Brooklyn-based real estate investment firm specializing in acquiring and redeveloping multifamily and mixed-use properties in New York City. The firm focuses on tax class 1, 2A, and 2B properties, which qualify as protected tax classes in NYC. They oversee every project end-to-end, from architects to general contractors and subcontractors to final sign-offs and leasing efforts. With over 13 years of experience, MyBK Investments has successfully navigated numerous real estate cycles, delivering substantial value for investors. They align themselves with their investors by co-investing in every single deal, embodying the agile and entrepreneurial spirits that define New York City. The firm excels at adapting and evolving, driven by a commitment to improve the neighborhoods they work in while delivering outsized returns. An integral part of their investment strategy is to be experts in their sub-market and to develop connections with on-the-ground brokers and local vendors to discover deals rather than relying on traditional, oversaturated channels. The majority of their acquisitions are completed off-market, allowing them to find undervalued and underutilized mixed-use and multifamily properties in New York City, with an enhanced focus on specific neighborhoods across Brooklyn. MyBK Investments has a track record of successful projects, including a value-add renovation of a mixed-use property on Flatbush Avenue purchased in June 2020 for $1.075 million. They invested over $550,000 in a full gut renovation, transforming both the retail and two apartments into new modern and efficient spaces. Additionally, they reclassified the building from a commercial K4 tax category to a mixed-use protected class 1, reducing real estate taxes from $27,000 a year to $11,000. After a seven-month renovation and leasing effort, they refinanced the deal as part of a portfolio and pulled out 100% of the equity they had initially invested. The firm is led by Principal and Founder Oren Neria, who has developed extensive relationships in the Brooklyn market and successfully purchased over 50 investment properties. Before founding MyBK Investments, Oren was the Vice President of Acquisitions for G-way Management, where he led the acquisition team in purchasing over 40 buildings with a total value exceeding $100 million. Oren began his career in the real estate sector as an investment sales broker specializing in Upper Manhattan multifamily sales, successfully closing deals valued at over $150 million during his tenure. MyBK Investments' commitment to improving neighborhoods and delivering outsized returns has made them a trusted partner for local vendors, brokers, and investors. Their hands-on approach and deep understanding of the Brooklyn real estate market enable them to identify and capitalize on opportunities that others may overlook, ensuring sustained growth and value creation for their stakeholders.