A&E Real Estate has finalized the acquisition of 14 multifamily buildings in Brooklyn’s Gravesend and Sheepshead Bay neighborhoods. A&E acquired the portfolio, which encompasses 1,212 apartments, 306 parking spaces and five commercial units, from The LeFrak Organization for $248.7 million.
“As long-term believers in the enduring strength of New York City and its residential neighborhoods, we have been undeterred by the economic, regulatory and pandemic-related uncertainties that have periodically sent other multifamily investors to the sidelines,” said Douglas Eisenberg, executive chairman of A&E Real Estate. “Our unwavering conviction has set us up to grow and diversify our portfolio through an array of acquisitions – from luxury buildings on the Upper West Side and Sutton Place to working-class apartment communities in Sheepshead Bay and Rego Park. In doing so, we have positioned A&E as a leading owner and operator across the entire spectrum of mu