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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.
- ◦Sale/Acquisition

