The Frederick, 564-570 St. Johns Place
NEW YORK CITY—Harbor Group International, a privately-owned realestate investment and management firm, and investor Image Capital,purchased the newly built multifamily apartment building called TheFrederick, located at 564-570 St. Johns Place in Crown Heights,Brooklyn. The developers, Toby Moskovitz and Michael Lichtensteinof Heritage Equity Partners, sold the development for $117million.
Crown Heights historically had not been a neighborhood known forluxury residential developments. Years ago, racial riots in August1991 created national headlines. In those days, a tense atmospherenot only in Crown Heights but other nearby Brooklyn areas was notenticing developers to build or people to move into theneighborhood. But times have changed.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
