Acquisitions
LIVWRK acquires 1000 Dean Street
Published on
Asher Abehsera’s LIVWRK has closed on its acquisition of 1000 Dean Street in Crown Heights from BFC Partners, Goldman Sachs Urban Investment Group, and Jonathan Butler for $56 million. The developer secured a $61 financing package to buy and reposition the asset.
- Property details: The office building spans 155,000 square feet, and includes a ground-floor food court.
- Debt + Equity: The financing package includes a $45 million acquisition loan from Invesco and a $16 million equity investment from Meadow Partners.
- Flashback: The sellers paid $11 million for the property in 2012, and invested around $30 million in the property to cater to creative companies and startups. It’s now nearly 95 percent occupied.
