Search
 

Lee Estate Portfolio Sold for $107M

NEW YORK CITY—Following a bidding war with dozens of buyers, the sprawling group of 17 properties concentrated in Williamsburg section of Brooklyn went to a joint venture between L3 Capital and ASB Real Estate.

By Rayna Katz | Updated on March 16, 2015

NEW YORK CITY—The Lee Estate Portfolio—a diverse package of properties spanning Brooklyn, Manhattan, and Ulster County—has been sold for $107 million.

The majority of the portfolio was concentrated in 17 properties in the heart of Williamsburg, Brooklyn, which were acquired by a joint venture between L3 Capital LLC and ASB Real Estate Investments. The portfolio—which at the time of the sale was controlled by the Lee Estate—was previously owned by the late Myron Liebowitz, locally known as Mike Lee, and his late wife.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.