Gaia Real Estate Acquires Multifamily Property In Williamsburg, Brooklyn For $80M

Gaia Real Estate has acquired a multifamily property located at 55 Hope Street in Williamsburg, Brooklyn. The property was sold by the Gershon Company in a closed transaction.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $80,000,000
• Units: 117
• Price per Unit: $683,760
• Square Footage: 89,000
• Price per Square Foot: $898

The deal was facilitated by Yoav Oelsner and Glenn Tolchin, representing Upland Property Advisors.

This acquisition marks a significant investment by Gaia Real Estate in the Williamsburg market. The property, with its 117 units and 89,000 square feet, offers substantial potential for rental income. The transaction price of $80,000,000 reflects the desirability and value of the property in this popular Brooklyn neighborhood.