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.


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