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670 Pacific Street
SOLD

Red Apple Group Acquires Prospect Heights Apartment Building For $69.2M

670 Pacific Street

MultiFamily
61,221 SF
clock iconSold 1 year ago
Yosef Katz
Yisroel Pershin
Eli Shilian
the dealplayerscompscontact
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Summary

Sale
NEW YORK
MultiFamily
61,221 sqft

An apartment building located at 670 Pacific Street in Prospect Heights, Brooklyn has been sold for $69,200,000. The property, consisting of 86 units, spans 61,221 square feet with a price per square foot of $1,131. The transaction took place on February 1, 2018.

Summary of transaction details

  • Property Type: Apartment Building
  • Transaction Amount: $69,200,000
  • Square Footage: 61,221
  • Price per Square Foot: $1,131
  • Address: 670 Pacific Street, Prospect Heights, Brooklyn

The seller of the apartment building was Read Property Group, represented by Robert Wolf. On the other hand, the buyer was Red Apple Group, with John Catsimatidis and John Catsimatidis, Jr. as the purchasing entities. The deal was facilitated by Yosef Katz, Yisroel Pershin, and Eli Shilian of GFI Realty.

It's worth noting that Catsimatidis overpaid for the property due to a 1031 exchange. Additionally, Catsimatidis is the owner of Gristedes Supermarkets and was previously in talks to acquire Fairway Market a few months ago.

Players

  • All

    4

  • Agents

    3

  • Agencies

    1

Yosef Katz's profile picture
Yosef Katz
Atlas Realty Group-image
Principal Broker
$660.1M Sold
Eli Shilian's profile picture

Details

Deal Summary
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SOLD
IMAGE: John Catsimatidis and John Catsimatidis, Jr. DATE: 02/01/18 ADDRESS: 670 Pacific Street CITY: New York MARKET: Prospect Heights, Brooklyn ASSET TYPE: Apartment Building SELLER: Read Property Group - Robert Wolf BUYER: Red Apple Group - John Catsimatidis, John Catsimatidis, Jr. BROKER: Yosef Katz, Yisroel Pershin and Eli Shilian of GFI Realty PRICE: $69,200,000 SF: 61,221 ~ PPSF: 1131 UNITS: 86 NOTE: Catsimatidis overpaid as he had a 1031. He also owns @gristedessupermarkets and was in talks to buy @Fairwaymarket a few months ago.

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Address670 Pacific Street

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