Cedar Park Capital Acquires Multifamily Assets From Black Spruce Management For $29.5M

The transaction involves a multifamily asset located at multiple addresses: 3 Sutton Street, 5 Sutton Street, 164 Kingsland Avenue, 166 Kingsland Avenue, 657 Meeker Avenue, 661 Meeker Avenue, 667 Meeker Avenue, 669 Meeker Avenue, and 673 Meeker Avenue, in the Brooklyn market. The sale price is $29,500,000, encompassing a total square footage of 62,459, which equates to a price per square foot of $472.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $29,500,000
• Square Footage: 62,459
• Price per Square Foot: $472
• Addresses: 3 Sutton Street, 5 Sutton Street, 164 Kingsland Avenue, 166 Kingsland Avenue, 657 Meeker Avenue, 661 Meeker Avenue, 667 Meeker Avenue, 669 Meeker Avenue, 673 Meeker Avenue
• Buyer: Cedar Park Capital
• Seller: Black Spruce Management
• Brokers: Aaron Jungreis, Ben Khakshoor & Alex Fuchs - Rosewood Realty Group

This transaction marks the second sale of these properties by Rosewood Realty Group, the first sale occurring in 2017. The brokers involved in the deal are Aaron Jungreis, Ben Khakshoor, and Alex Fuchs, representing the transaction from the seller's perspective.