The Real Deal New York

Eight-building Brooklyn portfolio asks $53M

The properties, located throughout several neighborhoods, total 68 units
April 15, 2016 09:00AM


From left: 68 Middagh Street in Brooklyn Heights and 773 Carroll Street in Park Slope

An eight-building portfolio in Brooklyn is hitting the market for $52.5 million.

The rental properties are located in several neighborhoods throughout the borough and include 773 Carroll Street in Park Slope. The three-story, 4,300-square-foot building has eight units, according to PropertyShark. Also for sale is the five-story, 10-unit building at 68 Middagh Street in Brooklyn Heights, which spans 9,160 square feet.

Other multi-family properties are located in Carroll Gardens, Clinton Hill, Boerum Hill, and Fort Greene, Crain’s reported. Altogether, the buildings have 68 unit and around half are rent regulated, according to Crain’s.

The seller is Jon Holman, a former attorney who started buying small multifamily properties in the borough in the 1980s. He said in an email to Crain’s that he plans to buy a single property from the proceeds from the sale.

TerraCRG’s Adam Hess is handling the sale.

In March 2015, Heller Realty purchased an 11-building Brooklyn portfolio, paying $206.5 million to Douglas Eisenberg’s A&E Real Estate. [Crain’s]Dusica Sue Malesevic