A KKR partnership reportedly is closing in a deal to purchase a recently completed apartment tower in Brooklyn in what may become the largest single-asset multifamily trade in the borough this year.
Newmark has been marketing the 327-unit Paxton, a 43-story tower at 540 Fulton Street, on behalf of the seller, NYC-based Jenel Real Estate, which is working with local operator Dalan Management on the pending deal, according to a report in Green Street.
The KKR venture reached an agreement earlier this month on a $240M price for the property, but no deposit was in place, the report said.
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