Multifamily

NEW YORK CITY —Itzhaki Properties has brokered the sale of three multifamily buildings located in New York City. The first property is an eight-story loft building located at 64-68 Wooster St. in Manhattan. The $13 million sale was arranged by Ivan Hakimian of Itzhaki. The second property is a four-story, 35-unit apartment building located at 84 Lawrence Ave. in Brooklyn. The $3.15 million sale was arranged by Hakimian, Shay Zach and Itai Akabi, all from Itzhaki. The final transaction comprised the $2.1 million sale of a four-story, 16-unit apartment building located at 37-67 64th St. in Woodside, Queens. Zach, as well as Itzhaki’s Tal Kashi and Aaron Kozhinoff, negotiated the sale. All parties were undisclosed.

NEW YORK CITY – Clipper Equity has completed more than $20 million in renovations to Flatbush Gardens in Brooklyn, New York City. The community features 59 six-story buildings with a total of 2,469 units. The property comprises 30 acres of East Flatbush and is bordered by Newkirk, Nostrand, Farragut and Brooklyn Avenue. Of the $20 million loan, $10 million went towards renovating the property and $10 million to renovating 1,200 units. The renovations included installing 59 elevators, updating the boiler system, re-roofing 40 percent of the buildings, repairing the exterior brick, installing a laundry facility and replacing the mailroom with a 24/7 center and parcel post office. Also, GreenbergFarrow designed the new courtyard.

JERSEY CITY, N.J. — Marcus & Millichap has completed the sale a six-unit apartment property located in Jersey City. The facility, built in 1900, features 5,100 rentable square feet with three-one bedroom and three-two bedroom units. The property recently underwent renovations that included a new roof, all new electric and new furnace/boilers. Declan Devlin of Marcus & Millichap’s New Jersey office, represented the seller, an undisclosed private investor, and procured the buyer, an undisclosed local investor. The sales price was $420,000.