Brooklyn apartments sell for $275m
A Rockpoint Group joint venture is under contract to purchase a 338-unit apartment complex in Brooklyn for approximately $275 million, or $813,600 per unit. The seller is JMH Development.
The joint venture consists of Rockpoint Group, Kushner Cos. and LIVWRK.
The property is located at 184 Kent Ave. in Brooklyn. The eight-story apartment building totals 347,274 square feet. The warehouse turned luxury rental building was built in 1913 and was renovated in 2010. Approximately 17,850 square feet is street retail; major retail tenants include Soul Cycle.
The transaction follows Rockpoint’s sale of The Manhattan at Times Square Hotel for $551 million. Rockpoint was also involved in the $2.5 billion sale of 1345 Avenue of the Americas and 605 Third Ave., which closed in December. And the firm purchased The Wimbledon, an