United Realty Pays $23M for Tilden House
Kohanoff Sells 117 Units in Brooklyn
April 8, 2013
United Realty Trust, Inc. has acquired the 117-unit Tilden House at 2518-2520 Tilden Ave. in Brooklyn, NY for $22.9 million, or $22.25 million exclusive of closing costs and broker fees, which equates to roughly $190,000 per unit.
The nine-story, 86,360-square-foot multifamily building was constructed in 2007 on eight-tenths of an acre in the East Flatbush area of the South Brooklyn submarket in Kings County.
"Tilden House represents the typical investment profile for the first of our Dual Investment Strategies. It is a stabilized income-producing property with an inflation-protected underlying lease," said Jacob Frydman, CEO and Chairman of United Realty Trust.
Amit Doshi and Greg Corbin with Besen & Assocaties, Inc. represented the seller. The buyer, led by Frydman and Eli Verschleiser, handled the deal in-house.
Please see CoStar COMPS #2713805 for additional information on this transaction.