The Real Deal New York

RedSky’s delight: Firm aiming for big score on Park Slope sale

Investment company asking $41M for properties it bought for $16.6M

January 06, 2015 05:13PM

719 Eighth Avenue and Ben Bernstein

719 Eighth Avenue and Ben Bernstein

RedSky Capital is asking $41 million for a pair of Park Slope rental buildings – more than double what it collectively paid for them.

The Brooklyn-based real estate investment firm, led by Ben Bernstein and Ben Stokes, acquired the buildings at 719-723 Eighth Avenue and 704 Eighth Avenue separately, in 2011 and 2012, for a combined $16.6 million.

The properties, which can be converted to condominiums hold a total of 45 apartments and two office units. Of the rentals, 10 units are rent-regulated.

TerraCRG’s Ofer Cohen and Adam Hess are marketing the properties. [Crain’s]Mark Maurer

  • WhoWillRobDurstPissOnNext?

    But why use Ofer Cohen to sell it?

    • richjew

      You scratch my back ill scratch yours…..

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