Troutbrook continues to buy and sell in Brooklyn

Troutbrook Co., an owner/builder, continues to buy and sell in the borough's marketplace. Troutbrook continues to look for transactions in the marketplace and believes that given the current debt markets the pursuit and strategy of focusing on the acquisition and disposition of "niche" smaller buildings and land, through one of its divisions, affords opportunity and profit in a real estate marketplace that still has great uncertainty. In June of this year, Marc Freud, one of the principals of the company, completed the sale of 46 Butler St. for $4 million. In July, Troutbrook acquired 109 Butler St. for $1 million. In August, Troutbrook and a partner went to contract on 237 Carlton Ave., 233 Carlton Ave. and 230 Adelphi the old "Carlton Mews Project," with Troutbrook being subsequently bought out by the partner. The Carlton Mews Project was an example of Troutbrook moving quickly to secure an off market transaction that was a direct deal and institutionally owned. In December, Troutbrook closed on the sale of 395 14th St. for $1.5 million. Deals that in aggregate are $11.5 million. Troutbrooks principals believe that by acquiring and disposing of assets, in the already gentrified areas of the borough, the principals of the company will be able to stay relevant and intelligent in the real estate marketplace until the larger economy improves.