Praedium Group Goes for the Gold

NEW YORK CITY-Praedium Group has acquired a new construction, luxury residential building at 109 Gold Street in DUMBO from seller Constellation Group, according to data from Real Capital Analytics. The property—located on the corner of Gold and York Streets—sold for $14.5 million, says Massey Knakal Realty Services.

“It is the most sought after asset class in Brooklyn today,” says Stephen Palmese, Massey Knakal director of sales, who exclusively handled the transaction. “There’s been interest from local, national and even international buyers for the idea to acquire properties like this on all fronts.”