South Brooklyn 1,217-Unit Multifamily Portfolio Under Contract for $250M

A&E Real Estate has entered into contract to purchase a 14-building, 1,217-unit multifamily portfolio for approximately $250 million, or about $205,423 per unit. The buildings that will sell completely unencumbered by debt are being sold by LeFrak, which has owned the buildings since they were constructed. The residential package is 93% rent stabilized and located in Brooklyn’s Gravesend and Sheepshead Bay neighborhoods.