The Real Deal New York

Bed-Stuy’s tallest privately owned building hits the market

Gaia Real Estate's 27K sf rental building stands 135 feet tall
September 10, 2014 03:55PM

Gaia Real Estate is looking to sell the tallest privately-owned property in Bedford-Stuyvesant.

Ofer Cohen and Matt Cosentino of Brooklyn commercial brokerage TerraCRG are marketing the 27,000-square-foot building at 11 Spencer Court. The 13-story, 135-foot-tall apartment rental building is expected to fetch $13 million. Excluding public housing projects in Bed-Stuy, it is the neighborhood’s tallest.

Spencer Court Holdings developed the property as a condominium building, then converted it to rentals. The property holds 23 apartments.

In May, Gaia bought 144 rental apartments for $147 million in the Corinthian from former Governor Eliot Spitzer, as previously reported. [Crain’s]Mark Maurer