Five Apartment Buildings in Elmhurst Purchased for $38 Million

Arial Property Advisors just handled a big old sale in Elmhurst: New York real estate investment firm BRG purchased a five apartment buildings — a 311-unit multifamily portfolio for about $38 million. The properties include four, six-story buildings with elevators and one, four-story walk-up. The buildings, which total about 234,830 square feet, are located at 41-23 Gleane Street, 37-52 89th Street, 43-23 Ithaca Street, 40-94 Denman Street (pictured above), and 91-31 Lamont Avenue. You can check out the old portfolio listing here. That’s not all BRG owns in Queens. The firm also recently purchased fourteen buildings with 250 units for over $30 million, according to its website. Those buildings are located in Jackson Heights, Elmhurst and Corona. With both recent purchases, BRG added 561 units across 19 buildings to its portfolio. In total, the firm owns approximately 1,500 apartment units in the immediate vicinity.