Carlyle Group Acquires Multifamily Property In Ridgewood, Queens For $3.05M

The Carlyle Group, through their entity Townhouse Rental II, L.L.C., has acquired a six-unit residential walkup building in Ridgewood, Queens. The property, located at 1924 Grove Street, was purchased from Joseph Kaufman's Grove Realty NY LLC for a total price of $3,050,000. The multifamily asset offers a total of 5,175 square feet of built space, with an average price per square foot of $589.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,050,000
• Units: 6
• Price per Unit: $508,000
• Square Feet: 5,175
• Price per Square Foot: $589

The buyer's representative in this deal is Carter Martin from Carlyle Group. The seller, Joseph Kaufman, facilitated the transaction through his company Grove Realty NY LLC. This acquisition marks a significant investment in the Ridgewood, Queens market for Carlyle Group, demonstrating their continued interest in the multifamily sector.