$58 Million, Rent-Stabilized Apartment Portfolio Trades

Credit crunch be damned? Maybe: The biggest apartment portfolio sale in Brooklyn in about a year was recently recorded in public records. A firm called Citadel Estates bought a 15-building, 566-apartment package deal for $58.4 million. Most of the properties are in Crown Heights, Flatbush and Midwood, and more than two-thirds of the units are rent-stabilized, by Property Shark’s reckoning (full list of buildings on the jump). One of the main guys behind Citadel is Moshe Drizin, who owns the St. George Hotel in Brooklyn Heights.
Photos of three of the buildings from Property Shark.
1. 57 St. Paul’s Place/60 Crooke Avenue
2. 1006 East 36th Street
3. 1505 Ocean Avenue
4. 2401 Newkirk Avenue
5. 1110 Flatbush Avenue
6. 350 Eastern Parkway
7. 371 Eastern Parkway
8. 422 Eastern Parkway
9. 1602 Union Street
10. 1608 Union Street
11. 1655 Union Street
12. 2304 Newkirk Avenue
13. 322 Rockaway Parkway
14. 636 East 21st Street
15. 2415 Newkirk Avenue
Feb 13, 2012 | 10:33 AM