Diamond Development Group Acquires 28-Unit Condo Building In Red Hook, Brooklyn For $19.25M

Robert Schwartz, Eric Gleitman, and Lee Cohen collaborated on the acquisition and development of a new 28-unit condo building located at 185 Conover Street in the Red Hook neighborhood of Brooklyn. The property boasts a total building size of 31,800 square feet and includes 21 parking spaces. The deal was finalized on December 16, 2019.

Summary of transaction details

• Property Type: Condo building
• Transaction Amount: $19,250,000
• Lender: S3 Capital
• Loan Type: Acquisition and development
• Landlord: Diamond Development Group - Lee Cohen
• Broker: Mercury Capital Markets - Eric Gleitman

Diamond Development Group, led by Lee Cohen, acted as the landlord in this transaction. The brokerage firm Mercury Capital Markets, represented by Eric Gleitman, played a pivotal role in facilitating the deal between the parties involved in the acquisition and development of the condo building at 185 Conover Street in Red Hook, Brooklyn.