The Real Deal New York

South Brooklyn rental portfolio sells for $78M

February 05, 2014 12:30PM

brighton-beach-portfolio

125 Brighton 11th Street and Alex Svetlakou

An eight-building beachfront portfolio in South Brooklyn has changed hands for $78 million.

The properties line a three-mile stretch through Gravesend Bay, Sheepshead Bay and Brighton Beach. The rental portfolio includes Manhattan Beach Estates at 200 and 210 Brighton 15th Street, as well as 211, 1511 and 1521 Brightwater Avenue, 125 Brighton 11th Street and 357 Avenue P. There is a total of more than 416,000 square feet and 452 rent-stabilized units in the package.

One building, 2835-2875 Ocean Avenue, was part of the nine-building bundle when it hit the market January 2013 for $124 million, as previously reported. The asking price for the 200-unit rental building alone is $35 million, the New York Observer reported.

Robert Knakal and Alex Svetlakou of Massey Knakal Realty Services handled the deal. The buyer and seller were not disclosed to the Observer. [NYO]Mark Maurer

One Response to “South Brooklyn rental portfolio sells for $78M”

  1. February 05, 2014 at 1:26 pm, Michael said:

    Im guessing Alex Rovt is Buyer

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