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Bushwick’s Denizen Trades in Largest Single-Asset Multifamily Deal Since 2018
Meridian Capital Group’s Institutional Investment Sales Group, led by Helen Hwang, has advised All Year Holdings Limited’s restructuring team on the sale of The Denizen in Brooklyn’s Bushwick neighborhood to Atlas Capital Group, LLC for $506 million. Reportedly it’s the largest single-asset multifamily transaction in the U.S. since 2018.
Situated on the site of the former Rheingold Brewery, The Denizen spans two full city blocks. The 911-unit complex contains two buildings, 54 Noll St. and 123 Melrose St., and offers more than 100,000 square feet of indoor and outdoor tenant amenity spaces.
A Meridian team of Hwang, Tamir Kazaz, Brian Szczapa, Yasmin Kheradpey, and Karen Wiedenmann represented the seller. Meridian’s Morris Betesh and Alex Bailkin negotiated $367.5 million in acquisition financing, which was provided by Square Mile Capital.
The sale of The Denizen is a major key step in All Year Holdings’ overall strategic realignment of its portfolio.
- ◦Sale/Acquisition
- ◦Financing
