The Real Deal New York

Kahen Properties picks up three DoBro buildings for $23.2M

Developer bought the Livingston Street properties from BPC Managment

September 01, 2015 11:34AM
By Ariel Stulberg

From left: 90 Livingston Street, 86 Livingston Street and 80 Livingston Street in Downtown Brooklyn, with Alex Kahen (inset)

Kahen Properties are the new owners of a trio of adjacent residential and commercial buildings on Livingston Street in Downtown Brooklyn. Kahen bought the properties for $23.2 million from BPC Management Corporation, according to property records filed with the city Tuesday.

The building at 80 Livingston Street has eight residential units and two commercial units; 86 Livingston Street has 12 residential units and one commercial unit, while 90 Livingston Street has five commercial units. All three buildings, which together have just over 32,000 square feet of space, have retail on the ground level.

The company plans to manage the properties as they are, and renovate apartments and retail spaces as they become vacant, said Kahen CEO Alex Kahen.

Kahen also owns a 49-unit, 32,075-square-foot residential building at 54-66 Livingston Street and filed plans in May for a new 21-story residential building in NoMad.

Correction: The initial version of this report identified the buildings as being on Livingstone Avenue. They’re on Livingston Street.