Sterling Equities, Enterprise Asset Management nab Brooklyn rentals for $21M

BCB Property Management the seller of two walk-ups it purchased for $8.7M in 2011

New York /
Jul.July 07, 2014 02:10 PM

Midtown-based landlord BCB Property Management sold a pair of Brooklyn buildings for a combined $21.2 million, a spokesperson for the seller told The Real Deal. Sterling Equities, led by New York Mets owner Fred Wilpon, acquired the five-story walk-up building at 250 Pacific Street in Carroll Gardens. Enterprise Asset Management bought the six-story walk-up at 234 Union Avenue in Williamsburg.

The properties collectively span 50,465 square feet and contain a total of 55 rental apartments. The building at 234 Union has 30 apartments and four retail units, while the walk-up at 250 Pacific has 25 apartments. Espresso shop Mountain Province is one of the retailers.

Marcus and Millichap broker Matt Fotis represented both the buyers and the seller. Sterling paid $11.4 million; Enterprise paid $9.8 million, Fotis said.

Although the sites are in different neighborhood, they were purchased together at the same time, Fotis said.

In 2011, BCB bought both buildings for $8.7 million from Glory Capital, as previously reported.

In March, residents at three Crown Heights buildings owned by BCB staged a protest against landlords who evict longtime tenants to deregulate the units, as previously reported.


Related Articles

arrow_forward_ios
RedSky Principal Benjamin Bernstein and a section of the prooperties along N6th in Williamsburg. (RedSky)
RedSky hands over Williamsburg retail portfolio valued at $145M
RedSky hands over Williamsburg retail portfolio valued at $145M
Miki Naftali of Naftali Group and 470 Kent Avenue (Getty; Google Maps)
Naftali Group files plans for 400-unit towers in Williamsburg
Naftali Group files plans for 400-unit towers in Williamsburg
Lantern Real Estate co-founder Tal Bar-Or and a rendering of the project
Williamsburg building gets $41M bridge loan after Brooklyn Boulders bails
Williamsburg building gets $41M bridge loan after Brooklyn Boulders bails
25 Kent Avenue and Amazon CEO Jeff Bezos (25 Kent; Getty)
Amazon Music is coming to Brooklyn’s office market
Amazon Music is coming to Brooklyn’s office market
From left: 21 Montrose Avenue in Williamsburg, 1480 Amsterdam Avenue and 520 West 136 Street in West Harlem and 208-212 West 141st Street in North Harlem (Google Maps)
Week’s mid-market sales run gamut from $80 to $500 psf
Week’s mid-market sales run gamut from $80 to $500 psf
126 Hancock Street and 85 North 3rd Street (Google Maps, Corcoran)
Bed-Stuy townhouse tops Brooklyn luxury contracts
Bed-Stuy townhouse tops Brooklyn luxury contracts
111 Kent Avenue and Stanley Iezman (Credit: Google Maps)
American Realty Advisors eats $10.7M on Williamsburg sale
American Realty Advisors eats $10.7M on Williamsburg sale
Carroll Gardens and Flatbush in Brooklyn (Photos by Steven Pisano via Flickr; Mrbrklyn via Wikipedia; iStock)
Brooklyn’s most and least expensive neighborhoods
Brooklyn’s most and least expensive neighborhoods
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...