UNITED REALTY TRUST BUYS $23M TILDEN HALL IN BROOKLYN

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NEW YORK CITY — United Realty Trust has purchased Tilden Hall, located at 2520 Tilden Ave. in Brooklyn, for $22.9 million. The sales price equates to a value of $195,726 per unit, or $266 price per square foot, and includes a capitalization rate of 9.8 percent. The nine-story multifamily building includes 117 units and spans 86,000 square feet. Highland Park Development leases the property, which signs biyearly service agreements with the city and its Department of HomelessServices to provide transitional housing, counseling and rehabilitation programs for families in need. Greg Corbin and Amit Doshi of Besen & Associates completed the transaction.

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