Farrell Fritz Aids in Closing $102.5M Multifamily Portfolio Transaction in Brooklyn, NY

Farrell Fritz real estate attorneys Jeff Levin and Laura Fallick represented an affiliate of Derby Copeland Capital in providing financing for the purchase of a multifamily portfolio in Brooklyn, NY by Flatiron Realty (Michael and Edward Ostad).    The financing consisted of senior term financing and renovation financing in the aggregate amount of $98,000,000.

Previously owned by the Pintchik family, prominent landlords along Brooklyn’s Flatbush Avenue, the portfolio includes 26 buildings with 84 residential units and 28 retail spaces, totaling 40,000 square feet of retail space.

To read more about this transaction, please see the following news coverage:

Flatiron Realty Snaps Up Brooklyn Multifamily Portfolio for $102M – Commercial Observer

Pintchik Family Sells $100M Prospect Heights Portfolio

26-Building Prospect Heights Portfolio Sells for Reported $102M – Connect CRE

Real Estate Family Buys Mixed-Use Brooklyn Portfolio for $103M

Pintchik family sells Brooklyn mixed-use portfolio | Crain’s New York Business