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Former Pitkin Theatre in Brooklyn Sells for $53M

POKO Mgmt Corp Divests Ascend Charter School
January 16, 2018
POKO Management Corporation sold the Ascend Charter School at 1501-1523 Pitkin Ave. in Brooklyn, NY to Herman Holdings LLC for $53 million, or about $322 per square foot.

The 164,775-square-foot former Pitkin Theatre was built in 1929 on three-quarters of an acre in the North Brooklyn submarket of Kings County. At the time of sale the asset was fully leased to three retail tenants and the charter school.

Matthew Cosentino, Ofer Cohen, Dan Marks, Fred Bijou and Eric Satanovsky with TerraCRG Brooklyn represented both the buyer and the seller.

Please see CoStar COMPS #4092522 for more information on the transaction.
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