NEW YORK CITY—Infinity Real Estate LLC and partner Nightingale Properties have acquired two mixed-use properties in the Midwood section of Brooklyn for a reported purchase price of $79.1 million from AVR Realty Co. of Yonkers, NY.
The acquisition by the subsidiary of Infinity Group of New York City includes Kingswood Plaza, a 230,000-square-foot mixed-use building at 1630 East 15th St. and a 22,000-square-foot development site at 1715 East 13th St. that currently features a 300-space parking garage, according to The Real Deal.
David Berg, director of investments for Infinity Real Estate, says the firm is looking to develop a mixed-use retail and medical office property at 1717 East 13th St. “We will definitely have a unique situation for multi-floor retail with possible office space above, depending on the office market,” Berg notes.
Kingswood Plaza is currently 100% occupied and features such tenants as TJ Maxx and NY Sports Club. The property, which has 250 underground parking spaces, also has leased medical office space. See story in The Real Deal.