Almost Fully Rented, 111 Kent Up For Sale
Since breaking ground in 2007, 111 Kent Avenue has had a tough road. The construction dragged on for years with the building finally changing hands in 2010 for $43 million (after the original developers defaulted on a loan) and getting a reboot as a rental last year. By October, the 62-unit development was 50-percent-rented. Yesterday,…

Since breaking ground in 2007, 111 Kent Avenue has had a tough road. The construction dragged on for years with the building finally changing hands in 2010 for $43 million (after the original developers defaulted on a loan) and getting a reboot as a rental last year. By October, the 62-unit development was 50-percent-rented. Yesterday, Crain’s reported that, with all but two of the apartments spoken for, owner Stellar Management was putting the property back on the market. “It was always part of our business plan to buy the asset, finish it and to market it,” said Matthew Lembo, vice president at Stellar Management. Studley will do the honors on the brokerage side.
Buyer Finishes, Flips Billyburg Building in a Year [Crain’s]
111 Kent Avenue More Than 50% Rented [Brownstoner]
111 Kent Avenue Takes the Plunge as a Rental [Brownstoner]
111 Kent Avenue Preparing for Take-Off [Brownstoner]
111 Kent Development Changes Hands [Brownstoner]
Development Watch: 111 Kent Avenue (March ’09) [Brownstoner]
Development Watch: 111 Kent Avenue (June ’08) [Brownstoner] GMAP
Development Watch: 111 Kent Avenue (March ’08) [Brownstoner] P*Shark
Development Watch: 111 Kent Avenue (July ’07) [Brownstoner] DOB
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