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252 Cornelia St
252 Cornelia St, Brooklyn, NY, 11221
Evan Kashanian
Associate | Multifamily | New York, NY
About Evan
Professional Accomplishments
Affiliations & Memberships
Evan Kashanian is a real estate professional at Matthews™ specializing in the disposition of development and new construction sites across Brooklyn, with deep expertise across its diverse neighborhoods. His boots-on-the-ground approach, extensive market knowledge, and strong work ethic have made him a trusted resource for clients and colleagues alike in one of New York City’s most competitive real estate markets.
Since joining Matthews™, Evan has quickly established himself in the industry. His analytical skills, dealmaking abilities, and strong work ethic earned him early recognition, including the 2024 5-Star Award for exceeding key performance metrics and delivering exceptional results.
Before starting his full-time career, Evan participated in Matthews™ award-winning summer training program, where he gained valuable insights into real estate investment strategies, deal structuring, and market analysis. He also has ownership-side experience, having worked with ERPM. In this boutique property management company, he built a strong foundation in asset management, tenant relations, and day-to-day property operations.
Professional Accomplishments
- 2024 – 5 Star Award – Matthews™
Affiliations & Memberships
- New York Department of State, Division of Licensing Services
- License No. 10401368202 (NY)
Contact Evan
Affiliated Agents
Case Studies
How Matthews™ Benchmarked Rent Stabilized Value in North Brooklyn
We are pleased to announce the sale of 1104 Bushwick Avenue in Bushwick, Brooklyn. The asset was 83% occupied when going under contract and traded at 90% of the asking price. This was achievable by generating 13 offers in a controlled timeframe to create a market around the building. The sale price reflects a 7.7% return on cost, positioning it competitively in today’s market for rent stabilized products. If you are an owner, investor, or appraiser, this comp should be a benchmark for underwriting rent stabilized products. The key difference was our marketing process, my hyper-focus in North Brooklyn multifamily, and the Matthews™ refined database and network. This enabled us to drive demand, secure strong terms, and achieve top-of-market pricing for our client from an out-of-state buyer. The seller was a private owner looking to liquidate a property in his portfolio. The buyer was an out-ofstate private capital investor attracted to the low basis offered in today’s market and the long-term upside of owning in NYC. Understand how these buildings truly operate. Know what operating expenses investors apply and what NOI the building will realistically produce once maximum rents have been established. No two buyers will arrive at the same NOI, but there are standard principles they will follow. Not every building will stabilize at a 3% vacancy and credit loss. Certain neighborhoods and building profiles will naturally experience higher turnover or collection challenges. Be accurate on operating expenses and realistic, not optimistic, on maximum collection rates. Know the comps. We saw 19 transactions year to date for fully rent stabilized assets, with a median price of $680,000 and an average price of $733,342. Solution & Strategy Strategic Marketing & Network Reach: By leveraging the extensive Matthews™ investor network, we created a competitive bidding environment, yielding 13 offers. This provided both leverage and momentum to secure terms at the top of the market. Managing Momentum: Speed was key. We engaged qualified, aggressive buyers early, ensuring a contract was signed while momentum was still on our side of the table. DHCR Due Diligence: Whenever selling a rent stabilized building, it is critical to build the right team. We bring in consultants who specialize in this process and are designed to solve problems, not create them. As brokers, we know the rules around rent regulation, can answer buyers’ questions to the best of our abilities, and ultimately give buyers the comfort to move forward. Brokers are not DHCR attorneys, leave that to the right professionals. Outcome The culmination of these efforts resulted in the successful sale of 1104 Bushwick Avenue for $985,000 to an out-of-state buyer. Our two backup buyers were private owners in the neighborhood looking to expand their portfolios; they understood the regulations but were firm on their underwriting and terms. The buyer will be selectively purchasing other properties throughout the year. Please reach out to learn more about this transaction and available inventory. We complete 500+ property audits annually for our clients. If you would like an accurate and transparent analysis of your asset, please do not hesitate to reach out.
Evan Kashanian
Associate
How Matthews™ Delivered Certainty Amid Legal Complexity in Bushwick
Matthews™ successfully facilitated the sale of 252 Cornelia Street, a six-unit, 100% rent stabilized property in Bushwick, Brooklyn. The property sold with two vacant units at the time of closing, in need of renovation prior to releasing. Based on DHCRs legal rents, the property, once fully occupied, would trade at a 5.6% cap rate. The transaction was completed within 60 days, with no financing or inspection contingencies, and the buyer accepted the property in its condition while assuming an ongoing legal matter. Challenge Following a previous brokerage’s inability to close, the owners were left with a terminated contract and active tenant litigation. During the prior market process, a prospective buyer approached tenants about potential buyouts, prompting one tenant to initiate legal action against the seller. As a result, the property suffered from damaged market perception and heightened scrutiny. The 100% rent stabilized status further narrowed the buyer pool to investors with specialized knowledge, while a competing offer of $825,000 included financing and inspection contingencies that introduced execution risk. Strategy Matthews™ agents Evan Kashanian and DJ Johnston repositioned the asset’s opportunity by restoring transparency and reframing the narrative around credibility and execution. Legal circumstances were clearly communicated upfront, and engagement was limited to qualified investors with demonstrated experience in rent stabilized assets. Rather than pursuing the highest headline price, Kashanian and Johnston cultivated competitive tension between credible buyers and advised ownership to weigh certainty, speed, and risk mitigation above nominal value. A crucial factor in the transaction was securing a non-contingent offer capable if closing efficiently, while absorbing the legal complexity without renegotiation. Result The owner selected a $680,000 offer that provided a definitive path to closing, free of financial and inspection uncertainties. The buyer accepted the asset in its current condition and assumed responsibility for the ongoing court matter, eliminating further legal exposure for the seller. The transaction closed in 60 days, delivering a clear exit and removing prolonged contingencies. By prioritizing disciplined buyer selection and certainty of execution, Kashanian and Johnston transformed a fragmented situation into a controlled and successful outcome.
Evan Kashanian
Associate