Atlas Capital Group Acquires Multifamily Property In Bushwick, Brooklyn For $506M

The multifamily property located at 123 Melrose Street and 54 Noll Street in Bushwick, Brooklyn has been sold. The property, known as @Denizen.Bshwk, was purchased by Atlas Capital Group from All Year Holdings. The sale was facilitated by brokers Helen Hwang, Brian Szczapa, Yasmin Kheradpey, Karen Wiedenmann, and Tamir Kazaz of Meridian Capital Group. The sale price for the property was $506,000,000, with a total of 911 units, resulting in a price per unit of $555,433.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $506,000,000
• Address: 123 Melrose Street & 54 Noll Street, Bushwick, Brooklyn
• Market: Bushwick, Brooklyn
• Buyer: Atlas Capital Group
• Seller: All Year Holdings
• Brokers: Helen Hwang, Brian Szczapa, Yasmin Kheradpey, Karen Wiedenmann, and Tamir Kazaz - Meridian Capital Group
• Units: 911
• Price per Unit: $555,433

The loan for the transaction was provided by Square Mile Capital, with brokers Morris Betesh and Alex Bailkin of Meridian Capital Group facilitating the loan. The loan amount was $367,500,000.