Brooklyn Asset Trades for $46M

KKR assumed a $26.2 million Freddie Mac loan as part of its acquisition of the 81-unit Clinton Hill community.

10 Lexington Ave. Image via Google Street View

KKR has acquired 10 Lexington Ave. in Brooklyn’s Clinton Hill neighborhood for $46.3 million, public records show. Bruman Realty developed and sold the 81-unit asset. The transaction included the assumption of a $26.2 million Freddie Mac loan from Newmark Knight Frank, set to mature in 2030.  

The five-story building is a few blocks from the Pratt Institute, some 2 miles southeast of the Brooklyn Navy Yard and a little more than 10 miles from downtown Manhattan. Subway stations served by the A, C and G lines are within walking distance.

Completed in 2015, the community has one- to three-bedroom apartments equipped with stainless steel appliances, air conditioning and private balconies. Common-area amenities include an elevator, a gym, bike storage and laundry facilities.

At the beginning of April, a partnership including KKR sold Jefferson One Upland for $103.6 million. The 262-unit community is some 16 miles from downtown Boston and was completed in 2016, with amenities such as lawn with fireplace, movie amphitheater, dog parks and wooded trails.     

You May Also Like