Here’s what the $10M-$20M NYC investment sales market looked like last week

Barberry Rose acquires Brooklyn apartments, JOE NYC buys in the Bronx

New York /
Feb.February 19, 2018 02:15 PM

Lewis Barbanel and 1193 Eastern Parkway

In the world of mid-market New York City investment sales last week, Barberry Rose Management bought three apartment buildings in Brooklyn and JOE NYC expanded its affordable housing portfolio.

1.) Long Island-based landlord Barberry Rose Management picked up three apartment buildings in the Weeksville neighborhood of Brooklyn for $11.3 million. The properties — located at 1193, 1195 and 1205 Eastern Parkway — are each four-story buildings with a total of 49 units. The seller is Albert Srour, the proprietor of Brooklyn discount department store Fat Albert. Srour bought the properties for $9.7 million in 2015. Barberry, headed by Lewis Barbanel, recently acquired 390 Wadsworth Avenue and 565-571 West 175th Street in Upper Manhattan.

2.) Joint Ownership Entity, a nonprofit also known as JOE NYC, bought six apartment buildings in the Bronx from local developer Adonai Realty Corporation for $14.1 million. JOE NYC, which has financial backing from community groups such as the Bedford Stuyvesant Restoration Corporation and the St. Nick’s Alliance, acquired 1036, 1039 and 1158 Intervale Avenue, 1141 Tiffany Street, 1035 Hall Place and 1118 Southern Boulevard. The portfolio contains 113 apartments and five commercial units. JOE NYC’s holdings in the city include the 95-unit Zora Neale Hurston Houses in Hamilton Heights.


Related Articles

arrow_forward_ios
Clockwise from top left: 162 West 13th Street, 325 Avenue Y in Brooklyn, 1281 Viele Avenue in the Bronx (Credit: Google Maps)
Here’s what the $10M-$30M NYC investment sales market looked like last week
Here’s what the $10M-$30M NYC investment sales market looked like last week
The Princeton Club flag in front of 15 West 43rd Street (Google Maps)
Paper Tigers: Princeton Club defaults on $39M mortgage, may lose digs
Paper Tigers: Princeton Club defaults on $39M mortgage, may lose digs
Donald Trump with the Trump National Golf Club Westchester (Trump National Westchester, Getty)
Trump Organization facing criminal probe over Westchester golf course
Trump Organization facing criminal probe over Westchester golf course
HUBB’s John McCarthy and with 510 East 88th Street and 181-199 Columbus Avenue (Google Maps)
HUBB NYC doubles down on Manhattan apartments
HUBB NYC doubles down on Manhattan apartments
Cushman acquires 40% stake in Greystone lending business for $500M
Cushman acquires 40% stake in Greystone lending business for $500M
Cushman acquires 40% stake in Greystone lending business for $500M
Durst Organization Chairman Douglas Durst, Venable LLP Chairman Stuart Ingis and 151 West 42nd Street (Getty, Venable)
Durst’s One Five One inks 158K sf lease for law firm tenant
Durst’s One Five One inks 158K sf lease for law firm tenant
Signature Bank CEO Joseph DePaolo (Signature Bank, iStock)
Signature Bank reports record results
Signature Bank reports record results
Ira Zlotowitz, president of Eastern Union, is starting his own company (Photo Illustration / Getty, Eastern Union)
Ira Zlotowitz leaving Eastern Union to start new company
Ira Zlotowitz leaving Eastern Union to start new company
arrow_forward_ios

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

Loading...