Ben-Josef Group Pays $20M for 29-Unit Boerum Hill Apartment Building
By Abigail Nehring July 11, 2024 5:00 pm
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Developer Abraham Posner handed off a shiny new nine-story apartment building near Barclays Center to a new owner.
A limited liability company tied to Ronen Ben-Josef’s Ben-Josef Group Holdings bought the 29-unit 82 Fourth Avenue in Boerum Hill, Brooklyn, from Posner for $20 million last month, according to property records made public Wednesday.
Posner bought the property — formerly a pair of three-story structures that housed the popular watering hole Pacific Standard — in December 2020 for $2.6 million. He demolished the sites to build a mixed-income residential building designed by BDF Architecture, according to Department of Buildings records.
Construction of the property finished last year, according to New York YIMBY. Nine units in the new nine-story building are set aside for households earning 130 percent of the area median income, and those units were listed through the city’s housing lottery after the work finished, New York YIMBY reported.
Real estate attorney Boris Saks signed the deal to sell the building and did not immediately respond to a request for comment.
Its new owner, Ben-Josef, serves as the director of Piermont Bank and also oversees acquisitions for Ben-Josef Group, which owns assets in Miami and New York, according to Piermont’s website. He did not immediately respond to a request for comment.
It’s unclear if brokers were involved in the sale.
Abigail Nehring can be reached at anehring@commercialobserver.com.
