The Real Deal New York

Harry Jeremias sells three-building BK portfolio for $46M

The buyer, the Hertz family, picks up 145 rent-stabilized units
By Mark Maurer | January 11, 2018 06:30PM

From left: 420 Avenue F in Kensington 2302 85th Street in Gravesend, Lipa Lieberman and Harry Jeremias (Credit: Getty Images)

UPDATED, Jan. 12, 5:17 p.m.: A group of investors led by Harry Jeremias sold a three-building multifamily package in the southern half of Brooklyn to the Hertz family for $46 million, sources told The Real Deal.

The Hertz family, which runs Ditmas Park-based Shyraz Management, closed Thursday on the purchase of the 145-unit rent-stabilized package, sources said. The three elevator properties, which collectively span 160,500 square feet, are located at 320-328 Ocean Parkway and 420 Avenue F in Kensington and 2302 85th Street in Gravesend.

The price per unit was about $317,000.

Meridian Capital Group’s Lipa Lieberman, Adam Sprung and Mark Steinmetz represented both sides in the deal. GFI Realty Services’ Erik Yankelovich and Aron Taub also served as advisers on the deal.

Meridian confirmed the deal, but declined to comment. Neither Jeremias, who runs the Harch Group, nor Hertz could be reached.

For the Hertz family, the deal was a 1031 exchange with two East Flatbush buildings they sold to Peter Rebenwurzel’s Coney Realty Group and David Malek’s Management for $26.5 million late last year.

The Jeremias family has owned the buildings for more than four decades, property records show. Harry Jeremias also owns a Meatpacking District retail building – home to the Italian restaurant Barbuto – which he bought for $70 million in 2015.