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Commercial real estate investment sales in Brooklyn crossed the $10-billion threshold for the first time in 2022, according to Ariel Property Advisors

A&E Real Estate Acquires South Brooklyn LeFrak Portfolio for $249M

A&E Real Estate has finalized the acquisition of 14 multifamily buildings in Brooklyn’s Gravesend and Sheepshead Bay neighborhoods for $248.7 million.  A&E acquired the portfolio, which encompasses 1,212 apartments, 306 parking spaces and five commercial units, from The LeFrak Organization. 

All 14 of the South Brooklyn portfolio’s buildings were developed by the LeFrak family between 1957 and 1961.  Since 2015, LeFrak has invested more than $18 million in capital improvements throughout the portfolio.   

The largest buildings in the portfolio include 2750 Homecrest Ave. and 2775 E. 12th Street, each consisting of 189 apartments; and 2375 E. 3rd St., which contains 134 apartments. 

A&E’s purchase of LeFrak’s South Brooklyn portfolio marks the latest in its recent series of major New York City multifamily acquisitions.  Over the past 12 months, A&E has acquired 3,284 apartments across 43 buildings in Brooklyn, Manhattan and Queens.  

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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