commercialobserver.com Open in urlscan Pro
2a04:fa87:fffd::c000:42a0  Public Scan

Form analysis
1 forms found in the DOM

GET https://commercialobserver.com/

<form role="search" id="search-form" class="search-form" action="https://commercialobserver.com/" method="GET">
  <div class="input-button-lockup">
    <svg aria-hidden="true" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 512 512" class="icon" width="20" height="20">
      <path fill="currentColor"
        d="M505 442.7 405.3 343c-4.5-4.5-10.6-7-17-7H372c27.6-35.3 44-79.7 44-128C416 93.1 322.9 0 208 0S0 93.1 0 208s93.1 208 208 208c48.3 0 92.7-16.4 128-44v16.3c0 6.4 2.5 12.5 7 17l99.7 99.7c9.4 9.4 24.6 9.4 33.9 0l28.3-28.3c9.4-9.4 9.4-24.6.1-34zM208 336c-70.7 0-128-57.2-128-128 0-70.7 57.2-128 128-128 70.7 0 128 57.2 128 128 0 70.7-57.2 128-128 128z">
      </path>
    </svg>
    <input type="search" id="search-input" name="s" class="search-input" placeholder="Enter search term here" value="" autocomplete="off" autocapitalize="off">
    <button type="submit" class="co-btn search-submit">Search</button>
  </div>
</form>

Text Content

Skip to content
 * Leases
    * Industrial
    * Office
    * Retail
    * All Leases

 * Finance
    * Acquisition
    * CMBS
    * Construction
    * Distress
    * Refinance
    * All Finance

 * Sales
    * Residential
    * Commercial
    * Mixed Use
    * Land
    * Hotels
    * Development Rights
    * All Sales

 * Design + Construction
    * Architecture
    * Construction
    * Infrastructure
    * Policy
    * Urban Planning
    * Neighborhoods
    * All Design + Construction

 * Technology
 * More
    * Analysis
    * Columnists
    * Features
    * Industry
    * Legal
    * Partner Insights
    * Players
    * Research
    * Tenant Talk
    * Transportation

 * Markets
    * Los Angeles
    * New York City
    * Manhattan
    * Brooklyn
    * Queens
    * Bronx
    * National
    * Washington DC
    * South Florida

 * Videos
    * Power Briefing
    * Leasing + Sales Q&A
    * Design + Construction Q&A
    * On-Demand Events
    * All Videos

 * Weekly Issue
 * Events

Log In Sign Up My Account Log Out
 * Account Details
 * Email Preferences
 * Member FAQs
 * Logout

Search
 * Leases
    * Industrial
    * Office
    * Retail
    * All

 * Finance
    * Acquisition
    * Construction
    * CMBS
    * Distress
    * Refinance
    * All

 * Sales
    * Residential
    * Commercial
    * Mixed Use
    * Land
    * Hotels
    * Development Rights
    * All

 * Design + Construction
    * Architecture
    * Construction
    * Infrastructure
    * Policy
    * Urban Planning
    * Neighborhoods
    * All

 * Technology
 * More
    * Features
    * Columnists
    * Analysis
    * Research
    * Partner Insights
    * Industry
    * Legal
    * Players
    * Transportation
    * All

 * Markets
    * Los Angeles
    * New York City
    * Manhattan
    * Brooklyn
    * Queens
    * Bronx
    * National
    * Washington DC
    * South Florida

 * Videos
    * Power Briefing
    * Leasing + Sales Q&A
    * Design + Construction Q&A
    * On-Demand Events
    * All Videos

 * Weekly Issue
 * Events
 * Advertise
 * Contact
 * Reprints
 * Newsletters

 * Power Finance
 * Power 100
 * Owners Magazine

Log In Sign Up My Account Log Out
 * Account Details
 * Email Preferences
 * Member FAQs
 * Logout



© 2022 Observer Media · Terms · Privacy


A&E UNDER CONTRACT TO BUY LEFRAK BROOKLYN MULTIFAMILY PORTFOLIO FOR $250M


THE DEAL COMES HOT ON THE HEELS OF THE FIRM’S UWS APARTMENT TOWER PURCHASE 

BY CATHY CUNNINGHAM APRIL 12, 2022 12:10 PM

reprints

2375 East 3rd Street Photo: PropertyShark

--------------------------------------------------------------------------------

AddThis Sharing Buttons
Share to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare
to EmailEmail

--------------------------------------------------------------------------------

Doug Eisenberg’s A&E Real Estate is under contract to buy a South Brooklyn
multifamily portfolio owned by LeFrak for roughly $250 million, sources familiar
with the deal told Commercial Observer. 

The 14-building portfolio comprises 1,217 units in Brooklyn’s Gravesend and
Sheepshead Bay neighborhoods and is 93 percent rent stabilized. Five buildings
with 376 units are located in Gravesend and nine with 841 units are in
Sheepshead Bay.  

SEE ALSO: NoMad Hotel Owners Developing First NoMad Condo in Miami

Cushman & Wakefield’s Adam Spies, Adam Doneger and Daniel OBrien are leading the
sale of the portfolio, sources said. 

The largest assets trading hands are the 134-unit Denver building at 2375 East
3rd Street in Gravesend and the Hollywood and Bel Air buildings at 2750
Homecrest Avenue and 2775 East 12th Street, respectively, each 189 units. The 14
assets are located within a 10-minute drive of one another. 




LeFrak has owned the apartment buildings since they were constructed, between
1957 and 1961. Over the past five years, roughly $18 million has been invested
in property upgrades including lobby renovations and roof replacements. The
portfolio will sell completely unencumbered by debt, sources said. 

A&E continues to amass a significant multifamily portfolio in New York City. 

Last October, the firm closed on its acquisition of 400 East 57th Street, a
19-story multifamily building in the Sutton Place neighborhood, from SL Green
Realty Corp., and it’s been an active start to the year for the firm.

Earlier this year,A&E acquired Cunningham Heights, a residential community in
Queens Village, for $130 million. The deal on the 22-building 1,056-unit,
garden-style property marked the largest Queens multifamily deal since the onset
of the pandemic. And, only last week, it was announced that the firm had
purchased the Upper West Side apartment tower at 140 Riverside Boulevard for
$266 million from Sam Zell’s Equity Residential. 




Officials at A&E and C&W declined to comment. LeFrak officials weren’t
immediately available for comment. 

Cathy Cunningham can be reached at ccunningham@commercialobserver.com 


Keywords:A&E Real Estate, Adam Doneger, Adam Spies, Cushman & Wakefield, Daniel
OBrien, Douglas Eisenberg, LeFrak


ORGANIZATIONS IN THIS STORY

Diversified


CUSHMAN & WAKEFIELD

Owner


A&E REAL ESTATE

Owner


LEFRAK


PEOPLE IN THIS STORY


ADAM DONEGAR

‎Executive Managing Director, Cushman...


ADAM SPIES

Senior Managing Director, Eastdil...

AddThis Sharing Buttons
Share to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare
to EmailEmail
 
Trending Stories
Industry

New York City

MULTIFAMILY STAYS HOT IN NYC, BUT STARTS TO COOL FROM RECORD HIGH: REPORT

Finance  ·  Refinance

New York City

TACONIC, NUVEEN LAND $79M REFINANCE FOR UPPER EAST SIDE PROJECT

Design + Construction  ·  Policy

Florida

MIAMI-DADE AND PALM BEACH ATTEMPT TO TACKLE AFFORDABLE HOUSING CRISIS

Development

Maryland

TCC AND PRINCIPAL REAL ESTATE INVESTORS TEAM UP ON FREDERICK LIFE SCIENCES
DEVELOPMENT





Sales  ·  Residential

Florida


NOMAD HOTEL OWNERS DEVELOPING FIRST NOMAD CONDO IN MIAMI

BY JULIA ECHIKSON

Sales  ·  Residential

Maryland


TAKOMA PARK APARTMENT PORTFOLIO CHANGES HANDS IN $8M DEAL

BY KEITH LORIA

Sales  ·  Commercial

South Florida


CS VENTURES EXPANDS SOUTH FLORIDA PORTFOLIO TO PALM BEACH’S BANKERS ROW

BY MARK HALLUM





--------------------------------------------------------------------------------

 * Leases
   * Industrial
   * Retail
   * Office
 * Finance
   * Acquisition
   * Construction
   * CMBS
   * Distress
   * Refinance
 * Sales
   * Residential
   * Commercial
   * Mixed Use
   * Land
   * Hotels
   * Development Rights
 * Design + Construction
   * Architecture
   * Construction
   * Infrastructure
   * Policy
   * Urban Planning
   * Neighborhoods
 * Technology
 * More
   * Features
   * Columnists
   * Analysis
   * Research
   * Industry
   * Legal
   * Players
   * Transportation
 * About
   * Advertise
   * Newsletters
   * Contact
   * Reprints

Read the latest edition of the Commercial Observer online!

© 2022 Observer Media Terms Privacy Cookies Settings Do not sell my data Sitemap



PRIVACY PREFERENCE CENTER

When you visit any website, it may store or retrieve information on your
browser, mostly in the form of cookies. This information might be about you,
your preferences or your device and is mostly used to make the site work as you
expect it to. The information does not usually directly identify you, but it can
give you a more personalized web experience. Because we respect your right to
privacy, you can choose not to allow some types of cookies. Click on the
different category headings to find out more and change our default settings.
However, blocking some types of cookies may impact your experience of the site
and the services we are able to offer.
Allow All


MANAGE CONSENT PREFERENCES

FUNCTIONAL COOKIES

Functional Cookies

These cookies enable the website to provide enhanced functionality and
personalisation. They may be set by us or by third party providers whose
services we have added to our pages. If you do not allow these cookies then some
or all of these services may not function properly.

STRICTLY NECESSARY COOKIES

Always Active
Strictly Necessary Cookies

These cookies are necessary for the website to function and cannot be switched
off in our systems. They are usually only set in response to actions made by you
which amount to a request for services, such as setting your privacy
preferences, logging in or filling in forms. You can set your browser to block
or alert you about these cookies, but some parts of the site will not then work.
These cookies do not store any personally identifiable information.

PERFORMANCE COOKIES

Performance Cookies

These cookies allow us to count visits and traffic sources so we can measure and
improve the performance of our site. They help us to know which pages are the
most and least popular and see how visitors move around the site. All
information these cookies collect is aggregated and therefore anonymous. If you
do not allow these cookies we will not know when you have visited our site, and
will not be able to monitor its performance.

TARGETING COOKIES

Targeting Cookies

These cookies may be set through our site by our advertising partners. They may
be used by those companies to build a profile of your interests and show you
relevant adverts on other sites. They do not store directly personal
information, but are based on uniquely identifying your browser and internet
device. If you do not allow these cookies, you will experience less targeted
advertising.

Confirm My Choices

Back Button

Back


PERFORMANCE COOKIES

Vendor Search Search Icon Filter Icon


Clear Filters

Information storage and access
Apply
Consent Leg.Interest

All Consent Allowed

Select All Vendors
Select All Vendors
All Consent Allowed

Confirm My Choices


By clicking “Accept All Cookies”, you agree to the storing of cookies on your
device to enhance site navigation, analyze site usage, and assist in our
marketing efforts.

Cookies Settings Accept All Cookies