World Wide Group buys Brooklyn apartment for $103m
World Wide Group has purchased the 130-unit The Viridian in Brooklyn for $103 million, or $792,308 per unit. The seller was Meadow Partners, which paid $72 million for the six-story apartment building in 2013.
The NYC Boroughs, outside Manhattan, posted a strong first quarter sales volume in 2015, with more than $2.16 billion, according to Real Capital Analytics. The following quarters, however, produced lower totals, averaging $1.24 billion in sales. 2015 apartment property sales totaled more than $5.88 billion, an increase compared to the $4.8 billion 2014 year-end total.
The U.S. apartment sector as a whole during 2015 continued the boom in apartment investing with volume up 32 percent year-over-year on sales of $150 billion.
The sale of individual assets was still strong, up 28 percent year-over-year on $70 billion in deal volume, indicating the ongoing confidence in the sector by a broad base of investors.
Portfolio and entity-level tran