Jones of Ackman-Ziff completes interest portfolio sale in Brooklyn

Brooklyn, NY The Ackman-Ziff Real Estate Group, LLC has completed the sale of a partial interest in a portfolio of three buildings in Brooklyn: 215-219 Monroe St. in Bedford-Stuyvesant, 1087 Manhattan Ave. in Greenpoint, and 1030-1036 President St. in Crown Heights. The portfolio encompasses 96 units and 81,000 s/f. The seller of the partial interest in the portfolio is a private investor represented by Ackman-Ziff. Stephen Katz, the purchaser, acquired the stake in the portfolio based upon a valuation of $19.7 million.

The sale effort was led by Marion Jones of Ackman-Ziff. “The purchaser seized upon an exceptional opportunity to participate in the ownership of a portfolio that represents three of Brooklyn’s most accelerating submarkets, including Greenpoint, Bed-Stuy, and Crown Heights,” said Jones, a senior director at Ackman-Ziff.

The seller was represented by Joseph Marger, Esq. of Reed Smith, and Stephen Katz was represented by David Keusch, Esq. of Keusch Law PLLC.

Tags: Brokerage

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