Cornell Realty Management and Rubin Equities Inc. pay $90M to Chetrit Group, Robert Wolf’s Read Property Group for property in Dumbo

Cornell Realty Management and Rubin Equities Inc. acquired 85 Flatbush Avenue Extension in two transactions totaling $90 million. The story was first reported last month by PincusCo Media.

In the first, the buyers through the entity 85 Flatbush Rho Residential LLC paid Chetrit Group, Robert Wolf’s Read Property Group’s 85 Flatbush Apartments Owner LLC $46.0 million for 85 Flatbush Avenue Exte in Dumbo. The deal closed on September 19, 2019, and was recorded on October 4, 2019. The transaction consists of 1 parcel, including the tax class commercial condo recorded in Acris (CC) and containing 64 residential units.

In the second transaction, Cornell Realty Management and Rubin Equities Inc. through the entity 85 Flatbush Rho Hotel LLC paid Chetrit Group, Robert Wolf’s Read Property Group’s 85 Flatbush Owner LLC $44.0 million for 85 Flatbush Avenue Extension in Dumbo. The deal closed on September 19, 2019, and was recorded on October 4, 2019. The transaction consists of 2 parcels, including the tax class other (OT).

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
A recent story on the property. link.

Share this article