Brookland Capital, Nager Management score Central Brooklyn deals

Multifamily buildings change hands in Bedford-Stuyvesant, Stuyvesant Heights

New York /
Feb.February 17, 2021 09:00 AM
689 Marcy Avenue in Bedford-Stuyvesant and 242, 244, 246 and 248 Bainbridge Street in Stuyvesant Heights (Google Maps)

689 Marcy Avenue in Bedford-Stuyvesant and 242, 244, 246 and 248 Bainbridge Street in Stuyvesant Heights (Google Maps)

Multifamily buildings in Brooklyn made up the two mid-market investment sales recorded in New York City last week, totalling $34.2 million in transaction volume. The week prior saw nearly $58 million in deals for two commercial buildings.

Here are more details of the two investment deals between $10 million and $30 million for the week ending Feb. 12.

1. Ronel Ben-Dov sold a 51,000-square-foot apartment building at 689 Marcy Avenue in Bedford-Stuyvesant for $22.5 million. The property, developed by Boaz Gilad’s former firm Brookland Capital, stands eight floors tall and has 41 residential units. Ronen Ben-Josef signed for the buyer, a limited liability company affiliated with the apparel company TAA Inc.

Ben-Dov took over the beleaguered Brookland Capital in 2019 and has since worked to liquidate its assets for the benefit of bondholders and creditors.

2. Nager Management purchased four apartment buildings spanning 29,200 square feet on Bainbridge Street in Stuyvesant Heights for $11.7 million. The properties are located at 242, 244, 246 and 248 Bainbridge Street.

Isaac Abraham signed for the seller, the limited liability company 242-248 Bainbridge Partners.





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