GO Residential REIT Completes $109M Brooklyn Apartment Building Acquisition
The Crown Heights building has 186 rental units and three commercial condo units
By Amanda Schiavo July 21, 2026 12:53 pm
reprints
GO Residential REIT has been on a bit of a buying spree this year, and it just completed its previously announced acquisition of an approximately 81 percent managing interest in a multifamily building in Crown Heights, Brooklyn.
The real estate investment trust, using the LLC GO 409, acquired control of the 186-unit residential building at 409 Eastern Parkway for $109 million, according to property records made public Monday. GO purchased the stake from a trio of sellers: FBE Limited, Adam America Real Estate and Zev Marmurstein. Adam America will retain a 19 percent stake in the property.
The deal, first announced in March, closed July 1 and was recorded July 20, records show. The property has 197,395 square feet of built space and three ground-floor retail units. PincusCo first reported the sale.
Current retail tenants at the 11-story building include restaurant Cornbread Brooklyn and physical therapy clinic JAG Physical Therapy.
The property has a tax exemption status under the now-sunsetted 421-a program, PincusCo noted. The tax exemption status took effect in 2020, and will expire in 2056.
Max Kaufman, chief operating officer at GO, signed the deal for the buyer, records show. Yehoshua Fruchthandler, a managing member at FBE Limited, Florin Radu, chief commercial officer at Adam America, and Marmurstein signed the deal for the sellers. A CBRE team of Doug Middleton, Ariel Aber, Daniel Kaplan and Pierre Hills represented the sellers.
The buyer has been busy scooping up residential properties around the city. Earlier this year, GO acquired 350 West 43rd Street — also known as Ivy Tower — from Friedman Management, as well as 411 West 35th Street and 444 West 35th Street from Maddd Equities, Commercial Observer reported in February. The firm acquired the properties for a total of $380.5 million.
It’s also in contract to acquire the 209-unit residential portion of 7 Dey Street in the Financial District from SL Green Realty.
Following GO’s acquisition in Crown Heights, the REIT’s portfolio will comprise 2,731 residential units, up 7 percent from the end of June, according to the firm.
“409 Eastern Parkway complements our portfolio of distinctive amenity-rich luxury high-rise properties in New York City,” Joshua Gotlib, CEO of GO, said in a statement. “Brooklyn is New York City’s most populous borough with over 2.7 million residents, and as the borough continues to expand its commercial and residential presence, we expect it to provide us with additional opportunities for growth.”
The sellers could not be reached for comment.
Amanda Schiavo can be reached at aschiavo@commercialobserver.com.
