Brooklyn, NY Real estate investment firm Neue Urban, led by Zach Ehrlich, closed on the acquisition of 1467 Bedford Ave. in the Crown Heights neighborhood, for $5.4 million. The asset is near the A subway line.

The mixed-use building is 9,078 s/f consisting of 12 renovated free-market apartments and one vacant retail space. The buyer plans on upgrading the units even further and maximizing the rental value of the property to its fullest potential in a very strong prime Crown Heights market.

Adam Traub of Curb Capital LLC and Jacob Stavsky of Stav Equities LLC represented both the buyer and seller collectively in this off-market transaction.