GO-RE Partners Acquires Flatbush Apartment Building for $28M
By Isabelle Durso May 7, 2025 12:07 pm
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GO-RE Partners has acquired a seven-story apartment building in Flatbush, Brooklyn, for $28 million, according to city records made public Tuesday.
GO-RE, through the entity 88 Linden Equities, bought the 66-unit building at 88 Linden Boulevard from Prophet Capital Asset Management, which used the entity Prophet Linden Corporation, records show.
Doron Greenberg, founder of GO-RE, signed for the buyer while Kurt Rechner, chief operating officer at Prophet Capital, signed for the seller, according to records.
JLL’s Steven Rutman, Jeffrey Julien, Rob Hinckley and Ethan Stanton brokered the deal, while Michael Shmuely, Michael Zaremski, Lauren Kaufman and John Flynn, also from JLL, arranged $19.6 million in acquisition financing.
“88 Linden’s value today represents a discount to replacement cost, providing the buyer with a long-term hedge against current market volatility within a burgeoning submarket,” Rutman said in a statement sent to Commercial Observer.
A spokesperson for Prophet Capital did not immediately respond to a request for comment, while a spokesperson for GO-RE could not be reached for comment. PincusCo first reported the news.
Prophet Capital bought the property between Bedford and Rogers avenues in May 2015 for $2.1 million, city records show. Prophet Capital, the former lender on the building, took back ownership of the property in June 2021 for $23.1 million as a result of a foreclosure action, PincusCo reported.
The 60,259-square-foot residential building has apartment prices ranging from $2,800 per month for a studio to $4,350 per month for a three-bedroom, according to StreetEasy. The property also features a gym, laundry rooms, parking and bike racks.
The new deal comes after GO-RE acquired a pair of multifamily buildings in East Harlem at 69 East 125th Street and 58 East 126th Street from Greystone Development in October 2023 for $28.2 million, as CO previously reported.
Isabelle Durso can be reached at idurso@commercialobserver.com.
