Fairstead and Meadow Partners have acquired 275 Park Avenue in Clinton Hill from the HK Organization and Brickman Real Estate for $67.25 million. The mixed-use property spans 184,411 SF, and contains 123 apartments. It features a large 49,200 SF commercial component, including retail (23,600 SF), office space (6,700 SF), and a parking garage (96 spots).
- Worth Noting: The property’s J-51 exemption expired last year, and now all of the units are free market, TRD noted. Fairstead and Meadow plan to make improvements to the building’s common areas and renovate the apartments.
- Flashback: The sellers paid $68 million for the loft-style property in 2014.