Following on the heels of a $266 million apartment purchase on the Upper West Side, A&E Real Estate is acquiring a 14-building multifamily portfolio in Brooklyn's Gravesend and Sheepshead Bay neighborhoods, according to a source.
The 1,217-unit portfolio is trading for $250 million, purchased from LeFrak.
Cushman & Wakefield's Adam Spies, Adam Doneger and Daniel O'Brien brokered the sale. C&W declined to comment on the transaction.
A&E Real Estate just acquired a 354-unit apartment tower located at 140 Riverside Blvd., from Equity Residential. A CBRE team led by Darcy Stacom, chairman of NYC Capital Markets, arranged the sale.
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