Updated Sep 2, 2026
Scott Rechler Of RXR Realty Acquires Multifamily Asset At 89 Dekalb Avenue For $64M
89 Dekalb Avenue
$64,000,000
$273/SF
Building Size
234,000 SF
Asset Type
MultiFamily
Closing
Apr 15, 2026
About this deal
AI
The property asset involved in this transaction is a multifamily building located at 89 Dekalb Avenue in Fort Greene, Brooklyn. The sale occurred on April 15, 2026, with a sale price of $64,000,000. The property consists of 324 units, encompassing a total square footage of 234,000. The price per unit (PPU) is calculated at $197,531, while the price per square foot (PPSF) is $274.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $64,000,000
- Units: 324
- Square Footage: 234,000
- Price per Unit: $197,531
- Price per Square Foot: $274
- Buyer: Scott Rechler - RXR Realty
Scott Rechler, representing RXR Realty, acquired the residential components of the 89 Dekalb Avenue building, having purchased it from Long Island University. The deal involved approximately 234,000 square feet across two units, amounting to around $273.50 per square foot.
On the Map
$64,000,000
$273/SF
MultiFamily
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Brooklyn MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93