The Real Deal New York

A&E buys 14-story Queens rental building for $134M

Dermot paid $13.6 million for the Opal in 2003
By Claire Moses | August 05, 2015 05:35PM

Douglas Eisenberg’s A&E Real Estate picked up a Queens rental building for $134 million, according to property records filed with the city Wednesday.

The Dermot Co. is selling the property, located at 75-25 153rd Street, in the Kew Gardens Hills section of Queens. In February, A&E bought a multifamily portfolio spanning 32 buildings across three boroughs from the same seller, as The Real Deal reported.

Dermot bought the building — which is also known as the Opal — in 2003 from Touro College for $13.6 million and developed the site into a 14-story, almost 542,000-square-foot residential property. The Opal opened in 2004.

Rosewood Realty’s Aaron Jungreis was the sole broker on the transaction. He declined to comment.

Earlier this summer, A&E bought a $89 million Bronx portfolio from Axelrod Management.

A representative from A&E wasn’t immediately available Wednesday.