The Real Deal New York

Sam Boymelgreen puts the Kestrel up for sale for $90M

Developer is seeking one of the highest payouts for a commercial transaction in Brooklyn

September 11, 2014 05:40PM

From left: Sam Boymelgreen and 33 Caton Place

From left: Sam Boymelgreen and 33 Caton Place in Windsor Terrace in Brooklyn

Developer Sam Boymelgreen is putting his amenity-rich rental building in Windsor Terrace Brooklyn, the Kestrel, on the block just months after leasing began.

Boymelgreen is seeking $90 million dollars for the 126-unit complex, the New York Observer reported. If the Kestrel goes for that price — or anywhere in that ballpark — it would be one of the priciest commercial transactions in Brooklyn this year, according to CoStar and Real Capital Analytics data reviewed by The Real Deal.

Stephen Palmese, Aaron Warkov and Clint Olsen of Massey Knakal Realty Services are the exclusive agents for the property.

Apartments rent for up to $3,600 per month at the Kestrel, according to Halstead Property listings cited by the Observer. The property is located at 33 Caton Place across the street from the Prospect Park Parade Grounds. Its facilities include a gym, spa, theater and library. [NYO]Tom DiChristopher

  • Crian Bashman

    Rents are pretty reasonable in this building given the lack of new supply in the neighborhood, but if it sells for even close to $90 mil those reasonable rents will be a thing of the past.

  • Max K

    Get yourself a job. Bum.

    • no-permits

      the working man is a sucker.

MENU