Carlyle Group pays $11.7M, continues push into Brooklyn walkup market: MAP

By Adam Pincus

The Carlyle Group in September has nearly matched its most active months over the past year in an aggressive drive as the city’s top buyer of Brooklyn walkups, paying almost $40 million for 11 properties this month, despite reports of rental rates softening nationally and warning of a downturn in global economy.

The firm recorded two new purchases yesterday for a pair of adjacent eight-unit buildings at 598 Myrtle Avenue and 600 Myrtle Avenue for a total of $11.75 million from developer Yossel Lichtman. Lichtman bought the buildings in October 2019 for $2.999 million and undertook a major renovation and expansion, adding two floors to each building and increasing the number of units in each to eight. The city issued new certificates of occupancy over the summer.

The following chart covers properties Carlyle Group purchased only through the entity Townhouse Rental II.

The Carlyle Group has bought or invested in approximately 100 properties, and recently refinanced a portfolio of 39 properties with a $500 million loan from Invesco, many of which had been acquired through Greenbrook Partners.

Carlyle has directly acquired 77 properties for $289 million under the name Townhouse Rental II, starting in October 2021. This map is of properties acquired through Townhouse Rental II or included in the $500 million refinance.