Meridian’s Team Hess Lists BK Parkside Portfolio, Nine Multifamily Properties, for $104M

Meridian Investment Sales, the commercial property sales division of Meridian Capital Group, is pleased to present exclusively for sale the Brooklyn Parkside Portfolio for $104 million. The portfolio consists of nine properties located in the Crown Heights, Prospect Lefferts Garden, and Bedford-Stuyvesant neighborhoods of Brooklyn, N.Y. Senior Managing Director, Adam J. Hess, and his team of Edward Setton and Aaron Birns are representing the seller in this transaction.

The Brooklyn Parkside Portfolio includes 291 residential units and five commercial spaces that span a total of 233,000 square feet. Six of the properties are located in Crown Heights and Prospect Lefferts Gardens in close proximity to Prospect Park, the Brooklyn Museum and the Brooklyn Botanic Gardens. The remaining three buildings are situated in prime Bed-Stuy on the border of Clinton Hill, one block from Franklin Avenue and a few blocks from Atlantic Avenue. The properties, which can be purchased individually or as a package, provide investors with the unique opportunity to acquire institutional grade assets of scale from long-term ownership, as the portfolio has been owned by the same Brooklyn-based family for well over a decade.

“This portfolio offers investors the opportunity to acquire prime assets, both walk-up and elevator buildings, in three of Brooklyn’s strongest and fastest growing rental markets, Crown Heights, Prospect Lefferts Gardens and Bedford-Stuyvesant,” said Mr. Hess. “It is also a rare chance for investors to acquire prime assets with significant upside from long-term ownership.”

Adam Hess, Senior Managing Director at Meridian Investment Sales, can be reached at (718) 534-9201 ext 6201 or ahess@meridiancapital.com.