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BRM Picks Up 47-Unit Apt. Complex in Brooklyn for $11.5 Million

Locally-Based Investor Adds Multifamily Assets in Brooklyn, Washington Heights to Portfolio
July 10, 2018
Barberry Rose Management Co. (BRM) acquired a 47-unit apartment complex at 826 Crown St. in Brooklyn from a joint venture between East Coast Holdings and Sharp Management Corp. for $11.45 million, or about $244,000 per unit.

Originally built in 1930, the multifamily building totals 52,764 square feet. The Crown St. complex offers a mix of studio- and one-bedroom floorplans, ranging in size from 954 to 1,054 square feet, according to CoStar data.

In addition to acquiring the Crown St. apartment complex, BRM also purchased a 42-unit multifamily building in Manhattan’s Washington Heights for $13.65 million, or about $325,000 per unit, according to CoStar data.

Steven Vegh of Westwood Realty Associates brokered both deals on behalf of the buyers and the sellers.

Please see CoStar COMPS #4323694 and #4323698 for more information on these transactions.
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