Goldman Sachs fund acquires interest from Settlement Housing Fund valued at $35.5M for multifamily in Gravesend

The Goldman Sach Urban Investment Group’s entity GSB LIHTC Investor LLC acquired an interest from Settlement Housing Fund (although Ron Orgel’s Phoenix Realty Group is the beneficial owner of the property) through the entity 301 Housing Development Fund Corporation valued at $35.5 million for 1 parcel, including the tax class homes for indigent children, aged, homeless (N2) and containing 166 residential units at 2424 Cropsey Avenue in Gravesend. The deal closed on December 13, 2019 and was recorded on December 31, 2019.
The property contains a total of 132,209 square feet of built space.

Over the past five years, there have been 7 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 7 renovation/alteration projects (A2) applied for with a total estimated value of $9,965,322.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link