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Carlyle Group Acquires 51-Unit Multifamily Building In Gowanus Brooklyn For $32.1M

Property Image
SOLD
$32,100,000

New York

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MultiFamily56,868 SF
Sold 04/15/2025
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Property Image
SOLD

Carlyle Group Acquires 51-Unit Multifamily Building In Gowanus Brooklyn For $32.1M

438 4th Avenue

See Similar Deals
MultiFamily56,868 SF
Sold 04/15/2025

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$564
Total Square Footage:56,868 SF
Transaction Type:Sale

A multifamily residential building located at 438 4th Avenue in Gowanus, Brooklyn, was sold for $32.1 million. The property consists of 51 units, featuring a total building square footage of 57,069 and a residential square footage of 56,868. The price per unit is calculated at $629,412, with a price per building square foot of $562 and price per residential square foot of $564.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $32,100,000
  • Buyer: Harvey Schwartz - Carlyle Group
  • Seller: Benjamin Werber - Werber Real Estate
  • Units: 51
  • Building Square Footage: 57,069
  • Price Per Unit: $629,412
  • Price Per Building Square Foot: $562
  • Residential Square Footage: 56,868
  • Price Per Residential Square Foot: $564

This transaction saw Harvey Schwartz from Carlyle Group acquiring the property from Benjamin Werber of Werber Real Estate, representing a notable decline in price compared to its previous acquisition in 2013, when it was purchased for $37.8 million.

Players

BUYER

Details

SOLD
IMAGE: Harvey Schwartz & Benjamin Werber DATE: 04/15/2025 ADDRESS: 438 4th Avenue MARKET: Gowanus, Brooklyn ASSET TYPE: Multifamily BUYER: Harvey Schwartz - Carlyle Group (@OneCarlyle) SELLER: Benjamin Werber - Werber Real Estate SALE PRICE: $32,100,000 UNITS: 51 ~ PPU: $629,412 BSF: 57,069 ~ PPBSF: $562 SF: 56,868 ~ PPSF: $564 NOTE: Carlyle Group acquired a 51-unit residential building at 438 4th Avenue in Gowanus, Brooklyn for $32.1M from Werber Real Estate, marking a significant discount from its 2013 purchase price of $37.8M.

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