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Madison Realty Capital Sells Brooklyn Multifamily Property for $37.4M

NEW YORK CITY — Madison Realty Capital has completed the disposition of a multifamily property located at 385 Union Ave. in Brooklyn’s Williamsburg neighborhood. Originally in foreclosure and under management of a receiver, the six-story property sold for $37.4 million. The 40,000-square-foot property features 47 residential units. The property was sold in an off-market transaction facilitated by Aaron Jungreis of Rosewood Realty Group, who represented both parties. The name of the buyer was not released.

Content Partners
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Walker & Dunlop

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