The New Coney Island - Brooklyn's Times Square by the Sea

Friday, March 24, 2017

Abro Management buys two Brighton Beach rentals from Hudson Companies for $47M

Real Deal excerpt -

Richard Scharf’s Abro Management nabbed two adjacent Brighton Beach rental buildings from the Hudson Companies for $46.9 million, sources told The Real Deal.

Abro, a Long Island-based investment firm, is now the third owner of the luxury rental buildings in just the four years since they’ve been built. GFI Capital Resources Group developed them in 2013, then sold them to David Kramer’s  Hudson Companies for $39.5 million in 2014.

The property at 1125 Banner Avenue rises 11 stories, and the other at 2750 East 12th Street has seven. Together, they have 102 apartments and span 115,000 square feet.

The South Brooklyn buildings’ market-rate rentals range in rent from $2,650 to $4,100

https://therealdeal.com/2017/03/17/abro-management-buys-two-brighton-beach-rentals-for-47m/ 

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