A&E Real Estate announced this week that it has finalized the acquisition of 14 multifamily buildings in Brooklyn's Gravesend and Sheepshead Bay neighborhoods from The LeFrak Organization of $248.7M.
The apartment buildings, which encompass 1,212 units, make up LeFrak's South Brooklyn portfolio. The acquisition was financed in part through a $170M fixed-rate loan from Signature Bank, which was arranged by Jonathan Estreich and Jason Boxer of Estreich & Co.
The acquisition of a multifamily cluster owned by a giant of NYC real estate is just the latest in a series of six large NYC multifamily acquisitions by A&E. Over the past 12 months, NYC-based A&E has acquired a total of 3,284 units in 43 apartment buildings in Brooklyn, Manhattan and Queens.
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