Sale of 133-Building Bankrupt Brooklyn Portfolio Valued at Over $435M
A Paragraph Partners-led investor group secured court-approval to acquire All Year Holding’s bankrupt Brooklyn portfolio, the company took control of the residential portfolio for 10% of its overall value of $435 million. Located in Northern Brooklyn, most of the 133-building portfolio consists of walk-up rental buildings. Originally agreeing to buy the portfolio for $60 million in 2022, however when interest rates started to rise, the group sought to reduce the price, leading to ongoing negotiations that at times looked like the deal might fall apart.