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.