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Acquisitions

Isaac Hager acquires 85 Flatbush Avenue Extension for $95 million

85 Flatbush Avenue Extension (Credit: Tectonic)

Isaac Hager’s Cornell Realty Management and Rubin Equities have acquired 85 Flatbush Avenue Extension in Downtown Brooklyn from the Chetrit Group and Robert Wolf’s Read Property Group for around $95 million, according to PincusCo. The mixed-use property spans 126,000 square feet, and contains a 174-key boutique hotel on the first six floors and 64 residential units from floors seven through 12.

  • Acquisition financing: The buyers secured $76 million in financing from Madison Realty Capital and the Bluestone Group to close the deal. 
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