Bisnow | August 9, 2017
One of Brooklyn’s most active and expensive neighborhoods for investment sales has a new player with a cheesy background. Murray’s Cheese founder Rob Kaufelt sold his business to grocery giant Kroger in February, including the storefronts at 350-254 Bleecker St. in Manhattan where Murray’s and Amy’s Bread were located. As part of a 1031 real estate exchange, Kaufelt bought two multifamily properties in Brooklyn Heights for $11M, Bisnow has learned exclusively. The buildings, 25 Pierrepont St. and 161 Columbia Heights, have a combined 19 units and sold for about $1K/SF and a cap rate of 3.3%. Kaufelt purchased them from French company Indev Real Estate. GFI Realty represented both sides of the transaction, with Erik Yankelovich repping Indev and Isaac Moskowitz repping Kaufelt. Brooklyn Heights, best-known in commercial real estate for being the epicenter of the Jehovah’s Witnesses portfolio being sold off and converted to modern uses, is also an active residential market, with big for-sale and rental developments in the near-term pipeline.
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