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YD Development acquires 105-115 Greenpoint Avenue

105 -115 Greenpoint Avenue (Credit: Marcus & Millichap)

YD Development’s Alberto Smeke Sabo has acquired 105 -115 Greenpoint Avenue in Brooklyn from Red Brick Properties for $29 million. The three contiguous walk-up buildings span a total of 38,560 square feet, and contain 52 units (2 are rent stabilized). 

  • Be Smart: The deal traded at around a 5.5 percent cap rate, according to CO.
  • Flashback: Red Brick paid $23.8 million for the four-story buildings in September 2014. The Greenpoint properties are located between Franklin Street and Manhattan Avenue.

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