Hertz Family Acquires Property At 2302 85th St Brooklyn For $46 Million From Harry Jeremias' Group

A group of investors led by Harry Jeremias sold a three-building multifamily package for $46 million. The properties span a total of 160,500 square feet and are located at 320-328 Ocean Parkway, 420 Avenue F in Kensington, and 2302 85th Street in Gravesend. The package consists of 145 rent-stabilized units, with a price per unit of approximately $317,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $46,000,000.00
• Address: 2302 85th St, Brooklyn, NY, 11214
• Market: Brooklyn
• Buyer: Hertz family
• Seller: A Group of investors led by Harry Jeremias
• Seller's Representatives: Lipa Lieberman (Meridian Capital Group), Mark Steinmetz (Meridian Capital Group), Adam Sprung (Meridian Capital Group)
• Additional Advisers: Erik Yankelovich (GFI Realty Services), Aron Taub (GFI Realty Services)

Meridian Capital Group facilitated the transaction, representing both the buyer and the seller. The deal highlights the involvement of key individuals from the brokerage industry, with Lipa Lieberman, Mark Steinmetz, and Adam Sprung all playing significant roles in the negotiation process.