Camber Property Group Acquires Multifamily Properties In Brooklyn, Bronx & Manhattan

The multifamily property located at 2060 Pitkin Ave., 1971 Grand Ave., and 2063 Madison Ave. in Brooklyn, Bronx, and Manhattan was sold for a total of $105,000,000. The property has a building square footage of 207,572 and a price per square foot of $505. With a lot size of 80,000 square feet, the property has a floor area ratio (FAR) of 2.07. The property falls under tax class 2 and has previously received an alteration permit on September 28, 2016. The lot dimensions measure 200 feet by 400 feet.

Summary of Transation Details

• Property Type: Multifamily
• Transaction Amount: $105,000,000
• Address: 2060 Pitkin Ave., 1971 Grand Ave., and 2063 Madison Ave.
• Market: Brooklyn, Bronx, and Manhattan
• Building Square Footage: 207,572
• Price per Square Foot: $505
• Lot Size: 80,000 square feet
• Floor Area Ratio (FAR): 2.07
• Tax Class: 2
• Permits: Alteration permit (09/28/2016)
• Lot Dimensions: 200 ft x 400 ft

The buyer of the property was Camber Property Group, represented by Mark Abramowicz, Andrew Moelis, and Rick Gropper. The brokers involved in the deal were Gene Levental and Jamie Renzenbrink from SVN Affordable.