"The multifamily housing market in Brooklyn is seeing a lot of interest from investors and developers," Scott Jaffee, Vintage's managing director in charge of the firm's subsidized housing division, tells GlobeSt.com. "And throughout the borough, neighborhoods are seeing an upswing in activity for the first time in years, including the area of our recent acquisition."

The 1,050-unit portfolio, acquired by a New York-based investor from Prime Realty, represents one of the largest multifamily transactions in the outer boroughs since Fresh Meadows Apartments with 3,285 units sold in November of 2001. The buildings, which are mostly walk-ups, are located in the Park Slope, Midwood, Flatbush, and Crown Heights sections of Brooklyn.

"Brooklyn is very underrated," Jungreis tells GlobeSt.com. "The properties are well maintained and I think interest will continue to grow."