Crown Heights hotel marks lone mid-market deal this week

An LLC based in Bed-Stuy bought the property for $10M

New York /
Mar.March 27, 2020 04:00 PM
1412 Pitkin Avenue (Credit: Google Maps)

1412 Pitkin Avenue (Credit: Google Maps)

Just one property traded hands in New York’s mid-level investment sales market last week, at a time when the city is trying to grapple with the deepening coronavirus outbreak. Here are the details of the sale:

An LLC based in Bedford-Stuyvesant purchased a four-story hotel in Crown Heights for $10 million. The seller was an LLC linked to the real estate and hospitality investment firm RiverBrook Equities. The hotel is at 1412 Pitkin Avenue, and it spans about 19,400 square feet, according to the city.


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
7 DeKalb Avenue with Avanath Capital Management CEO Daryl Carter and Daniel Brodsky (Brodsky, Avanath Capital, Getty)
Brodsky selling DoBro apartments for $100M
Brodsky selling DoBro apartments for $100M
159 Broadway in Brooklyn and Madison Realty Capital’s Josh Zegen (Getty, Madison Realty Capital, Stonehill & Taylor Architects)
Madison Realty’s pickup of Williamsburg hotel site tops midsize i-sales
Madison Realty’s pickup of Williamsburg hotel site tops midsize i-sales
From left: Wafra’s Fawaz Al-Mubaraki and The Westover Companies’ Guntram Weissenberger with 138 East 12th Street (JLL, Getty, Wafra, The Westover Companies)
Wafra sells East Village’s The Nathaniel for $57M
Wafra sells East Village’s The Nathaniel for $57M
Soloviev Group chairman Stefan Soloviev and the Solow Building at 9 West 57th Street (Getty, Soloviev Group, King of Hearts, CC BY-SA3.0 - via Wikimedia Commons)
Soloviev denies effort to sell 9 West 57th
Soloviev denies effort to sell 9 West 57th
Sonesta Hotels’ John Murray and The Shelburne Hotel (Illustration by Kevin Cifuentes for The Real Deal with Getty Images, Affinia, Sonesta)
TRD Pro: Biggest hotel sales of the past year
TRD Pro: Biggest hotel sales of the past year
ZD Jasper Realty's Jasper Wu with 23-17 41st Avenue (ZD Jasper, Google Maps, Getty)
GTJ sells East New York warehouse; Kartsonis, Wu cut deals
GTJ sells East New York warehouse; Kartsonis, Wu cut deals
(Illustration by The Real Deal with Getty Images)
How to sell a building today: Package it with cheap debt
How to sell a building today: Package it with cheap debt
arrow_forward_ios

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

Loading...