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JLL Closes Sale of Bushwick Apartment Portfolio
JLL Capital Markets closed the $16.3-million sale of a 24-unit, 17,000-square-foot, four-building multifamily portfolio in Brooklyn’s Bushwick neighborhood. The firm’s Brendan Maddigan, Stephen Palmese, Ethan Stanton, Winfield Clifford, Michael Mazzara, Patrick Maddigan and Connor McCullough marketed the portfolio on behalf of the seller, Node. A Brooklyn-based multifamily operator acquired the portfolio.
The portfolio consists of 24 market rates units across four six-unit, four- and five-story properties. The properties offer ready access to area shops, restaurants and entertainment in close proximity to mass transit, including the M and L subway lines, with service throughout Manhattan, Brooklyn, Queens and the Bronx.
“These properties benefited from strong in-place cash-flow and occupancy throughout COVID and are some of the highest-quality and best-designed assets in the market, creating a unique opportunity to own a well-located multi-housing portfolio offering sustainable long-term growth potential,” said Stanton.
- ◦Sale/Acquisition
