Multi-family portfolio contains 428 apartments
Doug Eisenberg’s A&E Real Estate Holdings has closed on its acquisition of a multi-family portfolio in Flushing and Elmhurst from the Weinroth family and Treetop Development for $127.5 million. The six-building portfolio spans 374,048 square, and contains 428 apartments.
Acquisition financing: Deutsche Bank provided a $65 million fixed-rate, long-term loan for the portfolio.
Addresses: 41-40 Denman Street, 132-25 Maple Avenue, 132-48 41st Road, 132-45 Maple Avenue, 132-57 Sanford Avenue, and 132-61 Sanford Avenue.
Be Smart: At $276,869 per unit and $317 per foot, the property traded at around a 4 cap.