The Real Deal New York

Abro Management buys East Flatbush building for $23M

Building at 346 East 29th Street contains 62 residential units
By Eddie Small | August 02, 2018 02:30PM

346 East 29th Street

Abro Management has purchased a multifamily building in East Flatbush for $22.7 million, according to sources familiar with the deal.

The building at 346 East 29th Street stands seven stories tall and has 62 residential units across about 67,000 square feet. Abro purchased it from CBZ Management, which bought the property in 2014 for $17 million.

Aaron Jungreis and Mike Kerwin of Rosewood Realty brokered the deal. Jungreis declined to comment, and Kerwin and Abro did not immediately respond to requests for comment.

Last year, Abro’s purchases included a pair of adjacent rentals at 1125 Banner Avenue and 2750 East 12th Street in Brighton Beach for $46.9 million and a 32-unit multifamily building at 115 East 116th Street in East Harlem for $14.8 million.

Developers Anshel Friedman and Alex Adjmi both filed plans for projects in Flatbush earlier this year. Adjmi is planning a six-story 38-unit building at 2251 Nostrand Avenue, and Friedman is planning a seven-story 105-unit building at 2708 Snyder Avenue.